Decomposing Structural Change

Jaime Alonso-Carrera, María Jesús Freire-Serén, Xavier Raurich
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Abstract

Abstract We identify the mechanisms governing the propagation of technological shocks to the sectoral allocation of labor in a non-parameterized growth model. These propagation mechanisms are: (i) the change in aggregate income; whose effect on sectoral composition depends on the income elasticities of consumption demand; (ii) the change in the relative prices of consumption goods, which alters the sectoral composition depending on the Allen-Uzawa elasticities of substitution between goods; (iii) the change in the rental rates, whose effect on sectoral composition is determined by the sectoral elasticities of substitution between capital and labor; and, (iv) the direct effect of the sector and factor bias of the technological change. From this analysis, we derive an accounting method to measure the contribution of these propagation mechanisms to structural change in parameterized growth models. By using some well-known parameterizations, we account for the contribution of each mechanism to the U.S. structural change in the period 1948–2010.
分解结构性变化
摘要 我们确定了非参数化增长模型中技术冲击对劳动力部门分配的传播机制。这些传播机制包括(i) 总收入的变化,其对部门构成的影响取决于消费需求的收入弹性;(ii) 消费品相对价格的变化,其对部门构成的影响取决于商品之间的艾伦-乌泽替代弹性;(iii) 租金的变化,其对部门构成的影响取决于资本和劳动力之间的部门替代弹性;(iv) 技术变革的部门和要素偏差的直接影响。通过上述分析,我们得出了一种核算方法,用以衡量这些传播机制对参数化增长模型中结构变化的贡献。通过使用一些众所周知的参数化方法,我们计算了 1948-2010 年间每种机制对美国结构变化的贡献。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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