Akos Valentinyi

TL;DR: In this article, a multi-sector extension of the one-sector growth model is proposed to study structural transformation in agriculture, manufacturing, and services, and the authors argue that this model provides new and sharper insights for understanding economic development, regional income convergence, aggregate productivity trends, hours worked, and wage inequality.

TL;DR: This article assess the empirical importance of changes in income and relative prices for structural transformation in the postwar United States and find that with final expenditure income effects are the dominant force behind structural transformation, whereas with value-added categories price effects are more important.

TL;DR: In this paper, the authors synthesize and evaluate recent advances in the research on structural transformation and develop a multi-sector extension of the one-sector growth model that encompasses the main existing theories of structural transformation.

TL;DR: In this article, the authors measure the income shares of capital and labor at the sectoral level for the US economy and decompose the capital shares into the income share of land, structures, and equipment.

TL;DR: In this paper, the authors assess how the properties of technology affect structural transformation, i.e., the reallocation of production factors across the broad sectors of agriculture, manufacturing, and services.