演講者簡介 : Kazuo Mino received his Ph.D. in Economics from Brown University in 1984. He is currently serving as Professor of Economic Research at Kyoto University. His research field is in macroeconomic theory, economic growth and monetary theory.
演講摘要 : We study structural change in a simple, two-sector endogenous growth model and show that the presence of commodity-specific consumption externalities can be a source of structural change. When the degrees of consumption externalities are different between different goods, the two sectors grow at different rates, whereas the aggregate economy exhibits balanced growth in the sense that capital stock and expenditure grow at the same constant rate. Under the more restrictive condition such that the degree of consumption externalities are the same, structural change does not occur. We also show that the dependence of the benchmark consumption levels on the past consumption is crucial for the divergent patterns of structural change across countries.
