Structural Change, Aggregate Demand and Employment Dynamics in the OECD, 1970-2010

Jochen Hartwig

No 13-343, KOF Working papers from KOF Swiss Economic Institute, ETH Zurich

Abstract: The paper combines Baumol's model of structural change with a model of aggregate demand growth in the Keynesian-Kaleckian tradition to predict the dynamics of aggregate employment. The model for the demand regime is estimated with - and Baumol's model for the productivity regime is calibrated on - OECD data. The trajectory for employment predicted by the combination of the two models tracks the actual employment dynamics in the OECD over the period 1970-2010 remarkably well.

Keywords: Structural change; Demand growth; Productivity growth; Employment dynamics; OECD panel data (search for similar items in EconPapers)
Pages: 25 pages
Date: 2013-10
New Economics Papers: this item is included in nep-eec and nep-mac
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Citations: View citations in EconPapers (1)

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http://dx.doi.org/10.3929/ethz-a-009992260 (application/pdf)

Related works:
Journal Article: Structural change, aggregate demand and employment dynamics in the OECD, 1970–2010 (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:kof:wpskof:13-343

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