European Parliament Library

Beyond Balanced Growth, Sergio Rebelo, Piyabha Kongsamut, Danyang Xie

Label
Beyond Balanced Growth, Sergio Rebelo, Piyabha Kongsamut, Danyang Xie
Language
eng
Abstract
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
resource.governmentPublication
international or intergovernmental publication
Literary Form
non fiction
Main title
Beyond Balanced Growth
Nature of contents
dictionaries
Responsibility statement
Sergio Rebelo, Piyabha Kongsamut, Danyang Xie
Series statement
IMF Working Papers
Content
Other version