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Heterogeneous Consumption Goods, Sectoral Change, and Economic Growth
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Thomas M. Steger
Veröffentlicht/Copyright:
2. März 2006
This paper sets up a simple AK-type growth model with heterogeneous consumption goods. It is shown that the (overall) intertemporal elasticity of substitution, the saving rate, and the growth rate of income unambiguously increase in the course of economic development. Moreover, the model offers an intuitive explanation of sectoral change. It is demonstrated that there are a number of implications which are in line with the empirical evidence on economic growth and sectoral change.
Published Online: 2006-3-2
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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Artikel in diesem Heft
- Article
- On Robust Trend Function Hypothesis Testing
- Heterogeneous Consumption Goods, Sectoral Change, and Economic Growth
- Support for Governments and Leaders: Fractional Cointegration Analysis of Poll Evidence from the UK, 1960-2004
- Non-linear Real Exchange Rate Effects in the UK Labour Market
- Model Selection Uncertainty and Detection of Threshold Effects
- Indexing Speculative Pressure on an Exchange Rate Regime: A Case Study of Macedonia
