The Role of Labor Markets in Structural Change.

Preprint OPEN
Miguel Ricaurte;
(2010)

Why did services become the dominant sector in industrialized economies? While abundant literature exists on the transition from agriculture to industry (i.e., the industrial revolution), there is no consensual explanation for the second wave of structural change. I arg... View more
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    0 1955 1965 1975 1985 1995 2005 Source: Author´s calculations, BEA (2007). (a) MM workers

    0 1955 1965 1975 1985 1995 2005 Source: Author´s calculations, BEA (2007). (b) % labor force

    0 1955 1965 1975 1985 1995 2005 Source: Author´s calculations, BEA (2007). (a) Sectoral output shares 1955 1965 1975 1985 1995 2005 Source: Author´s calculations, BEA (2007).

    (b) Services (relative to Manufacturing) prices 9Calculated the relative wages from Jean and Nicoletti (2002) for 1998 are 1.107. For more details, see

    Appendix B.2.

    No wage bargaining, U.S.: 1950-2000

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