Data and Code for: A Theory of Structural Change That Can Fit the Data

Principal Investigator(s): View help for Principal Investigator(s) Simon Alder, Swiss National Bank and University of North Carolina at Chapel Hill; Timo Boppart, Institute for International Economic Studies, Stockholm University and University of St. Gallen; Andreas Müller, University of Essex

Version: View help for Version V1

Name	File Type	Size	Last Modified
Data			11/03/2020 05:57:AM
Programs			11/03/2020 08:04:AM
LICENSE.txt	text/plain	14.6 KB	10/17/2020 08:16:AM
ReadMe_Data.pdf	application/pdf	218.1 KB	11/03/2020 01:02:AM
ReadMe_Programs.pdf	application/pdf	92 KB	11/03/2020 01:02:AM

Project Citation:

Alder, Simon, Boppart, Timo, and Müller, Andreas. Data and Code for: A Theory of Structural Change That Can Fit the Data. Nashville, TN: American Economic Association [publisher], 2022. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2022-03-25. https://doi.org/10.3886/E120823V1

Project Description

Summary: 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.

Scope of Project

Subject Terms: Structural change; Multi-sector growth model; Non-homothetic preferences; Income effects; Relative price effects; Non-monotonic Engel curves; Aggregation

JEL Classification:
      E21 Macroeconomics: Consumption; Saving; Wealth
      L16 Industrial Organization and Macroeconomics: Industrial Structure and Structural Change; Industrial Price Indices
      O11 Macroeconomic Analyses of Economic Development
      O14 Industrialization; Manufacturing and Service Industries; Choice of Technology

Geographic Coverage: Australia, Canada, United Kingdom, United States

Time Period(s): 1900 – 2014

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Published Versions

V1 [2022-03-25]

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