CONFORMISM AND STRUCTURAL CHANGE

• 成果类型: Article
• 署名作者: Hori, Takeo; Ikefuji, Masako; Mino, Kazuo
• 署名单位: Aoyama Gakuin University; University of Southern Denmark; Kyoto University
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.1111/iere.12127
• 发表日期: 2015
• 页码: 939-961
• 关键词: economic-growth; positional concerns; habit formation; consumption; externalities; others; PRODUCTIVITY; income; facts; GOODS

摘要

Using a simple, multisector model of endogenous growth, we show that commodity-specific consumption externalities can be a source of structural change. When the degrees of consumption externalities are different between goods, each sector grows at a different rate. However, the aggregate economy exhibits balanced growth in that capital stock and expenditure grow at the same constant rate. A three-sector version of our model may reconcile Kaldor's stylized facts with empirically plausible profiles of industrial structure transformation.