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Evolutionary Micro-dynamics and Changes in the Economic Structure
journal contribution
posted on 2023-06-08, 08:28 authored by Patrick Van Andre Lorentz, Maria SavonaMaria SavonaThe paper aims to account for the empirical stylized facts related to changes in sectoral structures that have led to the growth of services in most advanced countries over recent decades. A growth model with evolutionary microfounded structural change is developed, which formalizes the role of technical change and changes in intermediate demand as they affect the evolution of the sectoral composition of the economy and macro-economic growth. The simulated results are based on the use of the actual data, including InputOutput coefficients in the case of Germany. Three scenarios are identified, which account for the effects of a set of key parameters on changes in the structure of the economy.
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Publication status
- Published
Journal
Journal of Evolutionary EconomicsISSN
0936-9937External DOI
Issue
3-4Volume
18Page range
389-412Department affiliated with
- SPRU - Science Policy Research Unit Publications
Full text available
- No
Peer reviewed?
- Yes
Legacy Posted Date
2012-02-06Usage metrics
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