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  Accounting for structural transformation in the U.S.

Marcolino, M. A. (2022): Accounting for structural transformation in the U.S. - Journal of Macroeconomics, 71, 103394.
https://doi.org/10.1016/j.jmacro.2021.103394

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 ???ViewItemFull_lblCreators???:
Marcolino, Marcos Araujo1, ???ENUM_CREATORROLE_AUTHOR???           
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1Potsdam Institute for Climate Impact Research, Potsdam, ou_persistent13              

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 ???ViewItemFull_lblAbstract???: I account for the sources of labor reallocation from the manufacturing sector towards services in the United States for the 1950 to 2010 period. I use a multi-sector model with sector-specific productivity growth and non-homothetic preferences to decompose the sources of labor reallocation into supply-side, demand-side, and wedge distortions. The decomposition is performed in the context of a competitive economy where the competitive equilibrium with wedges reproduces prices and quantities of the economy exactly. During the 1950–2010 period, the demand-side mechanism accounts for 57% of the reallocation of labor and the supply-side for 28%. Focusing only in the sub-period from 1950 to 1980, 70% of the reallocation is demand-driven. In the sub-period between 1980 and 2010, the three sources of labor reallocation are quantitatively important. Demand-side accounts for 47%, supply-side for 42% and wedge distortions for 10%.

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???ViewItemFull_lblLanguages???: eng - English
 ???ViewItemFull_lblDates???: 2021-01-302021-12-282022-01-132022-03
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 ???ViewItemFull_lblIdentifiers???: ???ENUM_IDENTIFIERTYPE_DOI???: 10.1016/j.jmacro.2021.103394
???ENUM_IDENTIFIERTYPE_PIKDOMAIN???: RD3 - Transformation Pathways
???ENUM_IDENTIFIERTYPE_ORGANISATIONALK???: RD3 - Transformation Pathways
???ENUM_IDENTIFIERTYPE_WORKINGGROUP???: Macroeconomic modeling of climate change mitigation and impacts
???ENUM_IDENTIFIERTYPE_RESEARCHTK???: Economics
???ENUM_IDENTIFIERTYPE_REGIONALK???: North America
???ENUM_IDENTIFIERTYPE_MODELMETHOD???: Quantitative Methods
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???ViewItemFull_lblSourceTitle???: Journal of Macroeconomics
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???ViewItemFull_lblPages???: ???lbl_noEntry??? ???ViewItemFull_lblSourceVolumeIssue???: 71 ???ViewItemFull_lblSourceSequenceNo???: 103394 ???ViewItemFull_lblSourceStartEndPage???: ???lbl_noEntry??? ???ViewItemFull_lblSourceIdentifier???: ???ENUM_IDENTIFIERTYPE_CONE???: https://publications.pik-potsdam.de/cone/journals/resource/Journal-Macroeconomics
???ENUM_IDENTIFIERTYPE_PUBLISHER???: Elsevier