You are not currently logged in.
Access JSTOR through your library or other institution:
Beyond Balanced Growth
Piyabha Kongsamut, Sergio Rebelo and Danyang Xie
The Review of Economic Studies
Vol. 68, No. 4 (Oct., 2001), pp. 869-882
Published by: Oxford University Press
Stable URL: http://www.jstor.org/stable/2695912
Page Count: 14
You can always find the topics here!Topics: Economic growth models, Agricultural economics, Economic growth rate, Interest rates, Employment, Long run economic growth, Farm economics, Economic modeling, Trajectories, Crop economics
Were these topics helpful?See something inaccurate? Let us know!
Select the topics that are inaccurate.
Preview not available
Balanced growth models are commonly used in macroeconomics because they are consistent with the well-known Kaldor facts regarding economic growth. These models, however, are inconsistent with one of the most striking regularities of the growth process-the massive reallocation of labour from agriculture into manufacturing and services. This paper presents a simple model consistent with both the Kaldor facts and the dynamics of sectoral labour reallocation.
The Review of Economic Studies © 2001 The Review of Economic Studies, Ltd.