Replication data for: Structural Change, Growth, and Volatility

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Project Citation:

Moro, Alessio. Replication data for: Structural Change, Growth, and Volatility. Nashville, TN: American Economic Association [publisher], 2015. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114063V1

Project Description

Summary: I construct a two-sector general equilibrium model of structural change to study the impact of sectoral composition of gross domestic product (GDP) on cross-country differences in GDP growth and volatility. For an empirically relevant parametrization of sectoral production functions, an increase in the share of services in GDP reduces both aggregate total factor productivity (TFP) growth and volatility, thus reducing GDP growth and volatility. When the model is calibrated to the US manufacturing and service sector, the rise of the service sector occurring as income grows can account for a large fraction of the differences in per capita GDP growth and volatility between high-income economies and upper middle income economies. (JEL E23, E25, E32, L60, L80)

Scope of Project

JEL Classification:
      E23 Macroeconomics: Production
      E25 Aggregate Factor Income Distribution
      E32 Business Fluctuations; Cycles
      L60 Industry Studies: Manufacturing: General
      L80 Industry Studies: Services: General

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V1 [2019-10-12]

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