The American economic review, 2013-12, Vol.103 (7), p.2752-2789
2013
Details
- Autor(en) / Beteiligte
- Titel
- Two Perspectives on Preferences and Structural Transformation
- Ist Teil von
- The American economic review, 2013-12, Vol.103 (7), p.2752-2789
- Ort / Verlag
- Nashville: American Economic Association
- Erscheinungsjahr
- 2013
- Link zum Volltext
- Quelle
- EBSCOhost Business Source Ultimate
- Beschreibungen/Notizen
- We assess the empirical importance of changes in income and relative prices for structural transformation in the postwar United States. We explain two natural approaches to the data: sectors may be categories of final expenditure or value added; e.g., the service sector may be the final expenditure on services or the value added from service industries. We estimate preferences for each approach and find that with final expenditure income effects are the dominant force behind structural transformation, whereas with value-added categories price effects are more important. We show how the inputoutput structure of the United States can reconcile these findings.
- Sprache
- Englisch
- Identifikatoren
- ISSN: 0002-8282eISSN: 1944-7981DOI: 10.1257/aer.103.7.2752Titel-ID: cdi_proquest_miscellaneous_1477167663
- Format
- –
- Schlagworte
- Commodities, Consumer goods, Consumer information, Consumer preferences, Consumer sectors, Consumer spending, Consumption, Cotton, Decomposition, Economic activity, Economic policy, Expenditure, Expenditures, Growth models, Household consumption, Households, Income, Manufacturing, Manufacturing industries, Preferences, Prices, Production functions, Productivity, Relative prices, Resource management, Service industry, Structural change, Studies, U.S.A, Utility functions, Value, Value added