Beyond Balanced Growth
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 labour from agricult...
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| Veröffentlicht in: | The Review of economic studies 2001-10, Vol.68 (4), p.869-882 |
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| container_title | The Review of economic studies |
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| creator | Kongsamut, Piyabha Rebelo, Sergio Xie, Danyang |
| description | 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 labour from agriculture into manufacturing and services. This paper presents a simple model consistent with both the Kaldor facts and the dynamics of sectoral labour reallocation. |
| doi_str_mv | 10.1111/1467-937X.00193 |
| format | Article |
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These models, however, are inconsistent with one of the most striking regularities of the growth process—the massive reallocation of labour from agriculture into manufacturing and services. 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These models, however, are inconsistent with one of the most striking regularities of the growth process—the massive reallocation of labour from agriculture into manufacturing and services. This paper presents a simple model consistent with both the Kaldor facts and the dynamics of sectoral labour reallocation.</abstract><pub>Wiley-Blackwell</pub><doi>10.1111/1467-937X.00193</doi><tpages>14</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0034-6527 |
| ispartof | The Review of economic studies, 2001-10, Vol.68 (4), p.869-882 |
| issn | 0034-6527 1467-937X |
| language | eng |
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| source | EBSCOhost Business Source Complete; JSTOR Archive Collection A-Z Listing; Oxford University Press Journals All Titles (1996-Current) |
| subjects | Agricultural economics Crop economics Economic growth models Economic growth rate Economic modeling Employment Interest rates Long run economic growth Macroeconomics Trajectories |
| title | Beyond Balanced Growth |
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