Unbalanced Growth Slowdown

Akos Valentinyi and Georg Duernecker
Additional contact information
Akos Valentinyi: University of Manchester

No 822, 2017 Meeting Papers from Society for Economic Dynamics

Abstract: Unbalanced growth slowdown is the reduction in aggregate productivity growth that results from the reallocation of economic activity to industries with low productivity growth. We show that unbalanced growth slowdown has considerably reduced past U.S. productivity growth and we assess by how much it will reduce future U.S. productivity growth. To achieve this, we build a novel model that generates the unbalanced growth slowdown of the postwar period. The model makes the surprising prediction that future reductions in aggregate productivity growth are limited. The reason for this is that the stagnant industries do not take over the model economy.

Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
https://red-files-public.s3.amazonaws.com/meetpapers/2017/paper_822.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:red:sed017:822

Access Statistics for this paper

More papers in 2017 Meeting Papers from Society for Economic Dynamics Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA. Contact information at EDIRC.
Bibliographic data for series maintained by Christian Zimmermann ().