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The effect of consumption and production structure on growth and distribution. A micro to macro model
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posted on 2023-06-08, 22:53 authored by Tommaso CiarliTommaso Ciarli, André Lorentz, Maria SavonaMaria Savona, Marco ValenteThe paper offers a theoretical analysis of long-run economic growth as an outcome of structural changes. We model the microeconomic behaviour of firms in the final good and capital sectors, and the evolution of classes of workers/consumers. We carefully craft economic behaviour onto empirical evidence, and solve the model numerically. The results illustrate the microeconomic properties of the simulated growth patterns. In particular, we observe and explain the interactions between technological change, firm organization, income distribution, consumption behaviour and growth. We confirm the relevance and interdependence of these structural changes, and underline their microeconomic sources.
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Publication status
- Published
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- Published version
Journal
MetroeconomicaISSN
0026-1386Publisher
Wiley-BlackwellExternal DOI
Issue
1Volume
61Page range
180-218Department affiliated with
- SPRU - Science Policy Research Unit Publications
Full text available
- No
Peer reviewed?
- Yes
Legacy Posted Date
2015-10-22First Compliant Deposit (FCD) Date
2015-10-21Usage metrics
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