Beyong Balanced Growth

P. Kongsamut, Sergio Rebelo () and Danyang Xie

RCER Working Papers from University of Rochester - Center for Economic Research (RCER)

Abstract: One of the most striking regularities of the growth process is the massive reallocation of labor from agriculture into industry and services. Balanced growth models are commonly used in macroeconomics because they are consistent with the well-known Kaldor facts about economic growth. These models are, however, inconsistent with the structural change dynamics that are a central feature of economics development. This paper discusses models with generalized balanced growth paths.

Keywords: ECONOMIC; GROWTH (search for similar items in EconPapers)
JEL-codes: O14 O41 (search for similar items in EconPapers)
Pages: 42 pages
Date: 1997
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Related works:
Journal Article: Beyond Balanced Growth (2001)
Working Paper: Beyond Balanced Growth (2001)
Working Paper: Beyond Balanced Growth (2001)
Working Paper: Beyond Balanced Growth (1997)
Working Paper: Beyond Balanced Growth (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:roc:rocher:438

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