Kuznets-Kaldor-puzzle, neutral structural change and independent preferences and technologies

Denis Stijepic and Helmut Wagner

MPRA Paper from University Library of Munich, Germany

Abstract: The Kuznets-Kaldor stylized facts are one of the most striking empirical regularities of the development process in industrialized countries: While massive factor reallocation across technologically distinct sectors takes place, the aggregate ratios of the economy are quite stable. This implies that cross-technology factor reallocation has a relatively weak impact on the aggregates, which is a puzzle from a theoretical point of view. We provide a model which can explain the Kuznets-Kaldor-puzzle by independent preferences and technologies. Furthermore, we show by empirical evidence that this explanation is in line with 55% of structural change in the USA between 1948 and 1987.

Keywords: Kaldor facts; Kuznets facts; structural change; factor reallocation; sectors; balanced growth; unbalanced growth (search for similar items in EconPapers)
JEL-codes: D1 E13 O14 O41 (search for similar items in EconPapers)
Date: 2009-01-16, Revised 2012-03-07
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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