Series: IMF Working Papers
Author(s): Sergio Rebelo , Piyabha Kongsamut , and Danyang Xie
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 June 2001
Keywords: growth, structural change, Kaldor facts, real interest rate, economic growth, growth rate, growth rates, labor income, One, Two
Balanced growth models are commonly used in macroeconomics because they are consistent with the well-known Kaldor facts regarding economic growth. These models, however, are inconsistent with one of the most striki...