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Creator: Eckert, Fabian and Peters, Michael Series: Institute working paper (Federal Reserve Bank of Minneapolis. Opportunity and Inclusive Growth Institute) Number: 063 Abstract: Between 1880 and 1920, the US agricultural employment share fell from 50% to 25%. However, despite aggregate demand shifting away from their sector of specialization, rural labor markets saw faster wage growth and industrialization than non-agricultural parts of the US. We propose a spatial model of the structural transformation to analyze the link between aggregate structural change and local economic development. The calibrated model shows that rural areas adapted to the decline of the agricultural sector by adopting technologies already in use in urban locations. Without such catchup growth, economic development would have been urban-biased and spatial inequality would have increased.
Keyword: Structural change, Industrial structure, Economic geography, and Growth -
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Series: Monthly review (Federal Reserve Bank of Minneapolis. Research Department) Number: vol.12 no.18 Description: Note: missing cover page
Subject (JEL): R10 - General Regional Economics (includes Regional Data), N22 - Economic History: Financial Markets and Institutions: U.S.; Canada: 1913-, N52 - Economic History: Agriculture, Natural Resources, Environment, and Extractive Industries: U.S.; Canada: 1913-, and Y10 - Data: Tables and Charts -
Series: Monthly review (Federal Reserve Bank of Minneapolis. Research Department) Number: vol.19 no.4 Description: Includes a statement by F. L. Deming
Subject (JEL): N22 - Economic History: Financial Markets and Institutions: U.S.; Canada: 1913-, N52 - Economic History: Agriculture, Natural Resources, Environment, and Extractive Industries: U.S.; Canada: 1913-, Y10 - Data: Tables and Charts, and R10 - General Regional Economics (includes Regional Data) -
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Series: Monthly review (Federal Reserve Bank of Minneapolis. Research Department) Number: vol.14 no.2 Description: Includes title: "Employment near seasonal low"
Subject (JEL): Y10 - Data: Tables and Charts, N52 - Economic History: Agriculture, Natural Resources, Environment, and Extractive Industries: U.S.; Canada: 1913-, R10 - General Regional Economics (includes Regional Data), and N22 - Economic History: Financial Markets and Institutions: U.S.; Canada: 1913- -
Series: Monthly review (Federal Reserve Bank of Minneapolis. Research Department) Number: vol.10 no.16 Description: Includes titles: "Bank Profits Up Slightly in 1950", "Broad Demand Matches Crop Place for 1951", and "Industrial Activity High; Sales Dropped"
Subject (JEL): R10 - General Regional Economics (includes Regional Data), N22 - Economic History: Financial Markets and Institutions: U.S.; Canada: 1913-, Y10 - Data: Tables and Charts, and N52 - Economic History: Agriculture, Natural Resources, Environment, and Extractive Industries: U.S.; Canada: 1913- -
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Institute Working Papers
CollectionDescription: The Institute Working Papers series showcases the ongoing research of scholars at the Institute on issues related to economic opportunity and inclusive growth. These working papers are preliminary versions that are being shared in a timely manner to a broad research community, with the aim of promoting scholarly debate and soliciting constructive feedback. You can also find Institute Working Papers on the Minneapolis Fed website, IDEAS/RePEc, and EconLit.
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Discussion Papers
CollectionDescription: Discussion Papers are similar to Working Papers and Staff Reports, except that they are related to the Institute for Empirical Macroeconomics of the Federal Reserve Bank of Minneapolis. They are academic research papers written by economists affiliated with the Minneapolis Fed. Discussion Papers are often preprints of articles that are published in scholarly journals.
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Creator: Kehoe, Timothy Jerome, 1953- Description: Data supporting the chapter "What Can We Learn from the 1998-2002 Depression in Argentina?"
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Creator: Weber, Warren E. Description: Banknote discounts
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Creator: Chari, V. V.; Kehoe, Patrick J.; and McGrattan, Ellen R. Series: Staff report (Federal Reserve Bank of Minneapolis. Research Department) Number: 217 -
Creator: McGrattan, Ellen R. and Prescott, Edward C. Series: Staff report (Federal Reserve Bank of Minneapolis. Research Department) Number: 494 Keyword: Business cycles, Productivity, and Intangible capital Subject (JEL): E13 - General aggregative models - Neoclassical and E32 - Prices, business fluctuations, and cycles - Business fluctuations ; Cycles -
Description: Monthly forecast charts from November 2013 to June 2016. Charts include Real GDP Growth, PCE Inflation, Core PCE Inflation, and Unemployment Rate.