| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24568 |
| 来源ID | Working Paper 24568 |
| Structural Change in Investment and Consumption: A Unified Approach | |
| Berthold Herrendorf; Richard Rogerson; Ákos Valentinyi | |
| 发表日期 | 2018-05-07 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | Existing models of structural change typically assume that all of investment is produced in manufacturing. This assumption is strongly counterfactual: in the postwar US, the share of services value added in investment expenditure has been steadily growing and it now exceeds 0.5. We build a new model, which takes a unified approach to structural change in investment and consumption. Our unified approach leads to three new insights: technological change is endogenously investment specific; having constant TFP growth in all sectors is inconsistent with structural change and aggregate balanced growth occurring jointly; the sector with the slowest TFP growth absorbs all resources asymptotically. We also provide empirical support from the postwar US for the first and third insight. |
| 主题 | Development and Growth ; Development |
| URL | https://www.nber.org/papers/w24568 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582241 |
| 推荐引用方式 GB/T 7714 | Berthold Herrendorf,Richard Rogerson,Ákos Valentinyi. Structural Change in Investment and Consumption: A Unified Approach. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w24568.pdf（307KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
