Beyond Balanced Growth

Piyabha Kongsamut, Sergio Rebelo and Danyang Xie
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Piyabha Kongsamut: International Monetary Fund
Sergio Rebelo: Northwestern University, NBER and CEPR

No 648, CEMA Working Papers from China Economics and Management Academy, Central University of Finance and Economics

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 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.

Pages: 14 pages
Date: 2001
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Citations: View citations in EconPapers (145)

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Related works:
Journal Article: Beyond Balanced Growth (2001)
Working Paper: Beyond Balanced Growth (2001)
Working Paper: Beyond Balanced Growth (1997)
Working Paper: Beyond Balanced Growth (1997)
Working Paper: Beyong Balanced Growth (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:cuf:wpaper:648

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