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The effect of consumption and production structure on growth and distribution. A micro to macro model

journal contribution
posted on 2023-06-08, 22:53 authored by Tommaso CiarliTommaso Ciarli, André Lorentz, Maria SavonaMaria Savona, Marco Valente
The 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.

History

Publication status

  • Published

File Version

  • Published version

Journal

Metroeconomica

ISSN

0026-1386

Publisher

Wiley-Blackwell

Issue

1

Volume

61

Page range

180-218

Department affiliated with

  • SPRU - Science Policy Research Unit Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2015-10-22

First Compliant Deposit (FCD) Date

2015-10-21

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