Structural Change, Aggregate Demand and Employment Dynamics in the OECD, 1970– 2010
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Author
Date
2013-10Type
- Working Paper
ETH Bibliography
yes
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Abstract
The paper combines Baumol’s model of structural change with a model of aggregate demand growth in the Keynesian-Kaleckian tradition to predict the dynamics of aggregate employment. The model for the demand regime is estimated with – and Baumol’s model for the productivity regime is calibrated on – OECD data. The trajectory for employment predicted by the combination of the two models tracks the actual employment dynamics in the OECD over the period 1970-2010 remarkably well. Show more
Permanent link
https://doi.org/10.3929/ethz-a-009992260Publication status
publishedJournal / series
KOF Working PapersVolume
Publisher
KOF Swiss Economic Institute, ETH ZurichSubject
LABOUR MARKET AND EMPLOYMENT; Productivity growth; OCDE; Employment dynamics; ARBEITSMARKT UND BESCHÄFTIGUNG; OECD; Demand growth; WIRTSCHAFTSSTRUKTURÄNDERUNGEN (WIRTSCHAFTSWISSENSCHAFTEN); OECD panel data; Structural change; ECONOMIC STRUCTURAL CHANGES (ECONOMICS)Organisational unit
02525 - KOF Konjunkturforschungsstelle / KOF Swiss Economic Institute
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ETH Bibliography
yes
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