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Numerical Explorations of the Ngai-Pissarides Model of Growth and Structural Change

Dietrich, Andreas and Krüger, Jens (2010):
Numerical Explorations of the Ngai-Pissarides Model of Growth and Structural Change.
Darmstadt, In: Darmstadt Discussion Papers in Economics, [Online-Edition: http://econstor.eu/bitstream/10419/43135/1/640596746.pdf],
[Report]

Abstract

In this paper we specialize the Ngai-Pissarides model of growth and structural change [American Economic Review 97 (2007), 429-443] to the case of three sectors, representing the primary (agriculture, mining), secondary (construction, manufacturing) and tertiary (services) sectors. On that basis we explore the dynamic properties of the model along the transition path to the steady-state equilibrium by numerical methods. Our explorations show that the model misses several stylized facts of structural change among these sectors. We propose several extensions of the model to align the model more closely with the facts.

Item Type: Report
Erschienen: 2010
Creators: Dietrich, Andreas and Krüger, Jens
Title: Numerical Explorations of the Ngai-Pissarides Model of Growth and Structural Change
Language: English
Abstract:

In this paper we specialize the Ngai-Pissarides model of growth and structural change [American Economic Review 97 (2007), 429-443] to the case of three sectors, representing the primary (agriculture, mining), secondary (construction, manufacturing) and tertiary (services) sectors. On that basis we explore the dynamic properties of the model along the transition path to the steady-state equilibrium by numerical methods. Our explorations show that the model misses several stylized facts of structural change among these sectors. We propose several extensions of the model to align the model more closely with the facts.

Series Name: Darmstadt Discussion Papers in Economics
Volume: 199
Place of Publication: Darmstadt
Uncontrolled Keywords: economic growth, structural change, transition path
Divisions: 01 Department of Law and Economics
01 Department of Law and Economics > Volkswirtschaftliche Fachgebiete
01 Department of Law and Economics > Volkswirtschaftliche Fachgebiete > Emprical Economics
Date Deposited: 17 Nov 2010 09:19
Official URL: http://econstor.eu/bitstream/10419/43135/1/640596746.pdf
Additional Information:

JEL classification: L16, O14, O41

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