Data and Code for: A Theory of Structural Change That Can Fit the Data
收藏ICPSR2022-01-01 更新2026-04-16 收录
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https://www.openicpsr.org/openicpsr/project/120823/version/V1/view
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资源简介：
We study structural change in historical consumption expenditure of the United States, the United Kingdom, Canada, and Australia over more than a century. We characterize the most general class of preferences in a time-additive setting that admits aggregation of the saving decision and allows to identify preference parameters from aggregate data. We parametrize and estimate such intertemporally aggregable (IA) preferences and discuss their properties in a dynamic general equilibrium framework with sustained growth. Our preference class is considerably more flexible than the Gorman form or PIGL, giving rise to a good fit of the non-monotonic pattern of structural change. <br>
提供机构：
Institute for International Economic Studies, Stockholm University and University of St. Gallen; Swiss National Bank and University of North Carolina at Chapel Hill; University of Essex
创建时间：
2022-01-01
