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| Type | Working Paper |
| Scope | Discipline-based scholarship |
| Title | Structural Change and the Kaldor Facts of Economic Growth |
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| Institution | University of Zurich |
| Series Name | Working paper series / Institute for Empirical Research in Economics |
| Number | No. 111 |
| ISSN | 1424-0459 |
| Date | 2002 |
| Abstract Text | "We present a model in which two of the most important features of the long-run growth process are reconciled: the massive changes in the structure of production and employment; and the Kaldor facts of economic growth. We assume that households expand their consumption along a hierarchy of needs and firms introduce continuously new products. In equilibrium industries with an expanding and those with a declining employment share co-exist, and each such industry goes (or has already gone) through a cycle of take-off, maturity, and stagnation. Nonetheless macroeconomic aggregates grow pari passu at a constant rate." |
| Official URL | http://www.econ.uzh.ch/wp.html |
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