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150128 ||| eng |
| 020 |
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|a 9781451874686
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| 100 |
1 |
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|a Klyuev, Vladimir
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| 245 |
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|a Evolution of the Relative Price of Goods and Services in a Neoclassical Model of Capital Accumulation
|c Vladimir Klyuev
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2004
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| 300 |
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|a 18 pages
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| 651 |
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4 |
|a United States
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| 653 |
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|a Cost
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| 653 |
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|a Capital and Total Factor Productivity
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| 653 |
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|a Production
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| 653 |
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|a Industrial productivity
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| 653 |
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|a Aggregate Labor Productivity
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| 653 |
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|a Skills
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| 653 |
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|a Intangible Capital
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| 653 |
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|a National accounts
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| 653 |
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|a Labor
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Occupational Choice
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| 653 |
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|a Capacity
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| 653 |
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|a Labor productivity
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| 653 |
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|a Capital
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| 653 |
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|a Human Capital
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| 653 |
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|a Income economics
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| 653 |
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|a Employment
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| 653 |
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|a Capital productivity
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| 653 |
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|a Capital accumulation
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| 653 |
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|a Neoclassical
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| 653 |
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|a Investment
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| 653 |
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|a One, Two, and Multisector Growth Models
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| 653 |
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|a Labour
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| 653 |
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|a Unemployment
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| 653 |
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|a Aggregate Human Capital
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| 653 |
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|a Total factor productivity
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| 653 |
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|a Economic Growth of Open Economies
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| 653 |
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|a Labor Productivity
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| 653 |
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|a Saving and investment
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| 653 |
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|a Labor Economics: General
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| 653 |
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|a Investments: General
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| 653 |
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|a Wages
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| 653 |
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|a Intergenerational Income Distribution
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| 653 |
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|a Production and Operations Management
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| 653 |
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|a Labor economics
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
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|a IMF Working Papers
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| 028 |
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|a 10.5089/9781451874686.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2004/207/001.2004.issue-207-en.xml?cid=17793-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a This paper provides an explanation for the secular increase in the price of services relative to that of manufactured goods that relies on capital accumulation rather than on an exogenous total factor productivity growth differential. The key assumptions of the two-sector, intertemporal optimizing model are relatively high capital intensity in the production of goods and limited cross-border capital mobility, allowing the interest rate to vary. With plausible parameterization, the model also predicts a decline in the employment share of the goods sector over time
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