The Kuznets-Kaldor-Puzzle and neutral cross-capital-intensity structural change

Stijepic, Denis GND; Wagner, Helmut GND

The Kuznets-Kaldor stylized facts are one of the most striking empirical observations about the development process in the industrialized countries: While massive factor reallocation across technologically distinct sectors takes place, the aggregate ratios of the economy are quite stable. This implies that crosstechnology factor reallocation has a relatively weak impact on the aggregates, which is a puzzle from a theoretical point of view. We provide a model that can explain this puzzle. Furthermore, we show by empirical evidence that this model is in line with 55% of structural change.

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Stijepic, Denis / Wagner, Helmut: The Kuznets-Kaldor-Puzzle and neutral cross-capital-intensity structural change. Hagen 2010. FernUniversität in Hagen.

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