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Sectoral Technology and Structural Transformation
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DOI：10.1257/mac.20130041.png)
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摘要
En 中文
We assess how the properties of technology affect structural transformation, i.e., the reallocation of production factors across the broad sectors of agriculture, manufacturing, and services. To this end, we estimate sectoral constant elasticity of substitution (CES) and Cobb-Douglas production functions on postwar US data. We find that differences in technical progress across the three sectors are the dominant force behind structural transformation whereas other differences across sectoral technology are of second-order importance. Our findings imply that - Cobb-Douglas sectoral production functions that differ only in technical progress capture the main technological forces behind the postwar US structural transformation.
Keyword:
INCOME SHARES
SUBSTITUTION
US
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5.7
论文数:
1.4K
被引数:
4.4K
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Identifying the Elasticity of Substitution with Biased Technical Change.png)
AMERICAN ECONOMIC REVIEWOAAI
AMERICAN ECONOMIC REVIEWIF11.6
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