29 Pages Posted: 28 Feb 2011
Date Written: February 17, 2011
We provide new evidence on patterns of structural change in advanced economies, reconsidering the stylised facts put forward by Kaldor (1963), Kuznets (1971), and Maddison (1980). Since 1980, the services sector has overwhelmingly predominated in the economic activity of the European Union, Japan, and the US, but there is substantial heterogeneity among services. Personal, finance, and business services have low productivity growth and increasing shares in employment and GDP. By contrast, shares of distribution services are constant, and productivity growth is rapid. We find that the labour share in value-added is declining, while the use of ICT capital and skilled labour is increasing in all sectors and regions.
Keywords: Structural change, productivity growth, ICT capital, skills, sectoral patterns
JEL Classification: N10, O3, O14, O41, O47
Suggested Citation: Suggested Citation
Jorgenson , Dale W. and Timmer, Marcel P., Structural Change in Advanced Nations: A New Set of Stylised Facts (February 17, 2011). Scandinavian Journal of Economics, Vol. 113, No. 1, pp. 1-29, 2011. Available at SSRN: https://ssrn.com/abstract=1772431 or http://dx.doi.org/10.1111/j.1467-9442.2010.01637.x
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