2026-04-14T02:19:50Zhttps://recercat.cat/oai/request

oai:recercat.cat:2445/1225182025-11-20T10:16:26Zcom_2072_1057col_2072_478809col_2072_478917

00925njm 22002777a 4500 dc Alonso Carrera, Jaime author Raurich, Xavier author 2018-05-23T11:56:08Z 2018-12-31T06:10:24Z 2015-12 2018-05-23T11:56:08Z We analyze the equilibrium of a multi-sector exogenous growth model where the introduction of minimum consumption requirements drives structural change. We show that equilibrium dynamics simultaneously exhibit structural change and balanced growth of aggregate variables as is observed in US when the initial intensity of minimum consumption requirements is sufficiently small. This intensity is measured by the ratio between the aggregate value of the minimum consumption requirements and GDP and, therefore, it is inversely related with the level of economic development. Initially rich economies benefit from an initially low intensity of the minimum consumption requirements and, as a consequence, these economies end up exhibiting balanced growth of aggregate variables, while there is structural change. In contrast, initially poor economies suffer from an initially large intensity of the minimum consumption requirements, which makes the growth of the aggregate variables unbalanced during a very large period. These economies may never exhibit simultaneously balanced growth of aggregate variables and structural change. Creixement econòmic Desenvolupament econòmic Aprenentatge organitzatiu Mercat de treball Economic growth Economic development Organizational learning Labor market Demand-based structural change and balanced economic growth