Rebelo, Sergio.
Beyond Balanced Growth Sergio Rebelo. [electronic resource] / Sergio Rebelo. - Washington, D.C. : International Monetary Fund, 2001. - 1 online resource (21 p.) - IMF Working Papers; Working Paper ; No. 01/85 . - IMF Working Papers; Working Paper ; No. 01/85 .
Balanced growth models are commonly used in macroeconomics because they are consistent with the well-known Kaldor facts regarding economic growth. These models, however, are inconsistent with one of the most striking regularities of the growth process-the massive reallocation of labor from agriculture into manufacturing and services. This paper presents a simple model consistent with both the Kaldor facts and the dynamics of sectoral labor reallocation. The model shows that balanced growth can be consistent with structural change.
1451850751 : 15.00 USD
1018-5941
10.5089/9781451850758.001 doi
Economic Growth
Growth Rate
Growth Rates
Growth
Kaldor Facts
Labor Income
Hong Kong Special Administrative Region of China
United States
Beyond Balanced Growth Sergio Rebelo. [electronic resource] / Sergio Rebelo. - Washington, D.C. : International Monetary Fund, 2001. - 1 online resource (21 p.) - IMF Working Papers; Working Paper ; No. 01/85 . - IMF Working Papers; Working Paper ; No. 01/85 .
Balanced growth models are commonly used in macroeconomics because they are consistent with the well-known Kaldor facts regarding economic growth. These models, however, are inconsistent with one of the most striking regularities of the growth process-the massive reallocation of labor from agriculture into manufacturing and services. This paper presents a simple model consistent with both the Kaldor facts and the dynamics of sectoral labor reallocation. The model shows that balanced growth can be consistent with structural change.
1451850751 : 15.00 USD
1018-5941
10.5089/9781451850758.001 doi
Economic Growth
Growth Rate
Growth Rates
Growth
Kaldor Facts
Labor Income
Hong Kong Special Administrative Region of China
United States