TY - UNPB
T1 - Structural Change in Advanced Nations
T2 - A New Set of Stylised Facts
AU - Jorgenson, D.W.
AU - Timmer, Marcel
N1 - Relation: http://www.rug.nl/
Rights: University of Groningen
PY - 2010
Y1 - 2010
N2 - We provide new evidence on patterns of structural change in advanced economies, reconsidering the stylised facts put forward by Kaldor (1967), Kuznets (1971) and Maddison (1980). Since 1980 the services sector has overwhelmingly predominated in the economic activity of the European Union, Japan and the U.S., but there is substantial heterogenity 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.
AB - We provide new evidence on patterns of structural change in advanced economies, reconsidering the stylised facts put forward by Kaldor (1967), Kuznets (1971) and Maddison (1980). Since 1980 the services sector has overwhelmingly predominated in the economic activity of the European Union, Japan and the U.S., but there is substantial heterogenity 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.
M3 - Working paper
VL - GD-1151
T3 - GGDC Working Papers
BT - Structural Change in Advanced Nations
PB - GGDC
CY - Groningen
ER -