skip to content
Business cycle during structural change : Arthur Lewis' theory from a neoclassical perspective Preview this item
ClosePreview this item
Checking...

Business cycle during structural change : Arthur Lewis' theory from a neoclassical perspective

Author: Kjetil Storesletten; Bo Zhao; Fabrizio Zilibotti; National Bureau of Economic Research,
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 2019.
Series: Working paper series (National Bureau of Economic Research), no. 26181.
Edition/Format:   eBook : Document : English
Summary:
We document that the nature of business cycles evolves over the process of development and structural change. In countries with large declining agricultural sectors, aggregate employment is uncorrelated with GDP. During booms, employment in agriculture declines while labor productivity increases in agriculture more than in other sectors. We construct a unified theory of business cycles and structural change  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy online

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Named Person: W Arthur Lewis; W Arthur Lewis
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Kjetil Storesletten; Bo Zhao; Fabrizio Zilibotti; National Bureau of Economic Research,
OCLC Number: 1113941570
Notes: "August 2019"
Includes online appendix (XIII pages).
Description: 1 online resource (47, XXIII pages) : illustrations.
Series Title: Working paper series (National Bureau of Economic Research), no. 26181.
Responsibility: Kjetil Storesletten, Bo Zhao, Fabrizio Zilibotti.

Abstract:

We document that the nature of business cycles evolves over the process of development and structural change. In countries with large declining agricultural sectors, aggregate employment is uncorrelated with GDP. During booms, employment in agriculture declines while labor productivity increases in agriculture more than in other sectors. We construct a unified theory of business cycles and structural change consistent with the stylized facts. The focal point of the theory is the simultaneous decline and modernization of agriculture. As capital accumulates, agriculture becomes increasingly capital intensive as modern agriculture crowds out traditional agriculture. Structural change accelerates in booms and slows down in recessions. We estimate the model and show that it accounts well for both the structural transformation and the business cycle fluctuations of China.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/1113941570> # Business cycle during structural change : Arthur Lewis' theory from a neoclassical perspective
    a schema:Book, schema:CreativeWork, schema:MediaObject ;
    library:oclcnum "1113941570" ;
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
    schema:about <http://experiment.worldcat.org/entity/work/data/9471023513#Place/developed_countries> ; # Developed countries.
    schema:about <http://experiment.worldcat.org/entity/work/data/9471023513#Topic/business_cycles_china_21st_century_econometric_models> ; # Business cycles--China--21st century--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/9471023513#Topic/business_cycles_econometric_models> ; # Business cycles--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/9471023513#Topic/business_cycles_developed_countries_21st_century_econometric_models> ; # Business cycles--Developed countries--21st century--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/9471023513#Place/china> ; # China.
    schema:about <http://experiment.worldcat.org/entity/work/data/9471023513#Topic/agriculture_economic_aspects_econometric_models> ; # Agriculture--Economic aspects--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/9471023513#Place/developing_countries> ; # Developing countries.
    schema:about <http://experiment.worldcat.org/entity/work/data/9471023513#Topic/business_cycles_developing_countries_21st_century_econometric_models> ; # Business cycles--Developing countries--21st century--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/9471023513#Event/2000_2099> ; # 2000-2099
    schema:about <http://experiment.worldcat.org/entity/work/data/9471023513#Topic/labor_supply_economic_aspects_econometric_models> ; # Labor supply--Economic aspects--Econometric models
    schema:about <http://experiment.worldcat.org/entity/work/data/9471023513#Person/lewis_w_arthur_william_arthur_1915_1991> ; # William Arthur Lewis
    schema:author <http://experiment.worldcat.org/entity/work/data/9471023513#Person/storesletten_kjetil> ; # Kjetil Storesletten
    schema:author <http://experiment.worldcat.org/entity/work/data/9471023513#Person/zilibotti_fabrizio> ; # Fabrizio Zilibotti
    schema:author <http://experiment.worldcat.org/entity/work/data/9471023513#Person/zhao_bo> ; # Bo Zhao
    schema:bookFormat schema:EBook ;
    schema:datePublished "2019" ;
    schema:description "We document that the nature of business cycles evolves over the process of development and structural change. In countries with large declining agricultural sectors, aggregate employment is uncorrelated with GDP. During booms, employment in agriculture declines while labor productivity increases in agriculture more than in other sectors. We construct a unified theory of business cycles and structural change consistent with the stylized facts. The focal point of the theory is the simultaneous decline and modernization of agriculture. As capital accumulates, agriculture becomes increasingly capital intensive as modern agriculture crowds out traditional agriculture. Structural change accelerates in booms and slows down in recessions. We estimate the model and show that it accounts well for both the structural transformation and the business cycle fluctuations of China."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/9471023513> ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/9471023513#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/9471023513#Series/nber_working_paper_series> ; # NBER working paper series ;
    schema:name "Business cycle during structural change : Arthur Lewis' theory from a neoclassical perspective"@en ;
    schema:productID "1113941570" ;
    schema:publisher <http://experiment.worldcat.org/entity/work/data/9471023513#Organization/national_bureau_of_economic_research> ; # National Bureau of Economic Research,
    schema:url <http://papers.nber.org/papers/26181> ;
    schema:url <http://www.nber.org/papers/w26181> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/1113941570> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/9471023513#Organization/national_bureau_of_economic_research> # National Bureau of Economic Research,
    a schema:Organization ;
    schema:name "National Bureau of Economic Research," ;
    .

<http://experiment.worldcat.org/entity/work/data/9471023513#Person/lewis_w_arthur_william_arthur_1915_1991> # William Arthur Lewis
    a schema:Person ;
    schema:birthDate "1915" ;
    schema:deathDate "1991" ;
    schema:familyName "Lewis" ;
    schema:givenName "William Arthur" ;
    schema:givenName "W. Arthur" ;
    schema:name "William Arthur Lewis" ;
    .

<http://experiment.worldcat.org/entity/work/data/9471023513#Person/storesletten_kjetil> # Kjetil Storesletten
    a schema:Person ;
    schema:familyName "Storesletten" ;
    schema:givenName "Kjetil" ;
    schema:name "Kjetil Storesletten" ;
    .

<http://experiment.worldcat.org/entity/work/data/9471023513#Person/zilibotti_fabrizio> # Fabrizio Zilibotti
    a schema:Person ;
    schema:familyName "Zilibotti" ;
    schema:givenName "Fabrizio" ;
    schema:name "Fabrizio Zilibotti" ;
    .

<http://experiment.worldcat.org/entity/work/data/9471023513#Place/developed_countries> # Developed countries.
    a schema:Place ;
    schema:name "Developed countries." ;
    .

<http://experiment.worldcat.org/entity/work/data/9471023513#Place/developing_countries> # Developing countries.
    a schema:Place ;
    schema:name "Developing countries." ;
    .

<http://experiment.worldcat.org/entity/work/data/9471023513#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/1113941570> ; # Business cycle during structural change : Arthur Lewis' theory from a neoclassical perspective
    schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/9471023513#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/1113941570> ; # Business cycle during structural change : Arthur Lewis' theory from a neoclassical perspective
    schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/9471023513#Topic/agriculture_economic_aspects_econometric_models> # Agriculture--Economic aspects--Econometric models
    a schema:Intangible ;
    schema:name "Agriculture--Economic aspects--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/9471023513#Topic/business_cycles_china_21st_century_econometric_models> # Business cycles--China--21st century--Econometric models
    a schema:Intangible ;
    schema:name "Business cycles--China--21st century--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/9471023513#Topic/business_cycles_developed_countries_21st_century_econometric_models> # Business cycles--Developed countries--21st century--Econometric models
    a schema:Intangible ;
    schema:name "Business cycles--Developed countries--21st century--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/9471023513#Topic/business_cycles_developing_countries_21st_century_econometric_models> # Business cycles--Developing countries--21st century--Econometric models
    a schema:Intangible ;
    schema:name "Business cycles--Developing countries--21st century--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/9471023513#Topic/business_cycles_econometric_models> # Business cycles--Econometric models
    a schema:Intangible ;
    schema:name "Business cycles--Econometric models"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/9471023513#Topic/labor_supply_economic_aspects_econometric_models> # Labor supply--Economic aspects--Econometric models
    a schema:Intangible ;
    schema:name "Labor supply--Economic aspects--Econometric models"@en ;
    .

<http://www.worldcat.org/title/-/oclc/1113941570>
    a genont:InformationResource, genont:ContentTypeGenericResource ;
    schema:about <http://www.worldcat.org/oclc/1113941570> ; # Business cycle during structural change : Arthur Lewis' theory from a neoclassical perspective
    schema:dateModified "2019-10-04" ;
    void:inDataset <http://purl.oclc.org/dataset/WorldCat> ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.