differences in factor proportions and capital deepening. Capital deepening tends to increase the relative output of the sector … with a greater capital share, but simultaneously induces a reallocation of capital and labor away from that sector. We … models, non-balanced growth is shown to be consistent with an asymptotic equilibrium with constant interest rate and capital …

and also encompasses these two known mechanisms. Our model shows that sectoral differences in the degree of capital …-labor substitutability - a new mechanism - are a driving force for structural change. When the exibility to combine capital and labor differs … intensive in the input that becomes more abundant. As a result, growth rates of sectoral capital-labor ratios can differ and, if …

degree of capital-labor substitutability - a new mechanism - are a driving force for structural change. When the flexibility … to combine capital and labor differs across sectors, a factor rebalancing effect is operative. It tends to make … sectoral capital-labor ratios can differ and, if this effect dominates, shares of each factor used in a given sector can move …

and also encompasses these two known mechanisms. Our model shows that sectoral differences in the degree of capital …–labor substitutability-a new mechanism-are a driving force for structural change. When the flexibility to combine capital and labor differs … intensive in the input that becomes more abundant. As a result, growth rates of sectoral capital–labor ratios can differ and, if …

An analytical framework is developed to study the repercussions between endogenous capital- and labor-saving technical … individuals. In this framework aging increases the relative scarcity of labor with respect to capital. Therefore, there will be … more labor- and less capital-saving technical change. Unless there are contemporaneous knowledge spillovers across …

An analytical framework is developed to study the repercussions between endogenous capital- and labor-saving technical … this framework aging increases the relative scarcity of labor with respect to capital. Therefore, there will be more labor …- and less capital-saving technical change. Unless there are contemporaneous knowledge spillovers across innovating firms …