Evolutionary Micro-dynamics and Changes in the Economic Structure ∗

@inproceedings{Lorentz2006EvolutionaryMA,
  title={Evolutionary Micro-dynamics and Changes in the Economic Structure ∗},
  author={Andr{\'e} Lorentz and Maria Savona},
  year={2006}
}
The paper aims to account for the empirical stylised facts related to changes in sectoral structures that have led to the growth of services in most advanced countries over recent decades. A growth model with evolutionary micro–founded structural change is developed, which formalises the role of technical change and changes in intermediate demand as they affect the evolution of the sectoral composition of the economy and macro-economic growth. Firstly, we provide a micro–foundation for the… CONTINUE READING

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