Engel's Law in the Global Economy: Demand‐Induced Patterns of Structural Change, Innovation, and Trade
中文摘要
由收入弹性差异导致的部门间内生需求构成，为简洁起见称为恩格尔定律，会影响 统计显著 不可漏 统计 significant at the 5% level 在 5% 水平上显著 standard error 标准误 confidence interval 置信区间 point estimate 点估计 robustness check 稳健性检验 placebo test 安慰剂检验 parallel trends 平行趋势 endogeneity 内生性 selection bias 选择性偏误 heterogeneous effects 异质性效应 elasticity 弹性 percentage points 百分点 区别于 percent 百分比 one standard deviation increase 增加一个标准差 公共经济 财政 劳动 本站主题 fiscal decentralization 财政分权 transfer payment 转移支付 tax incidence 税负归宿 tax base 税基 value-added tax VAT 增值税 corporate income tax 企业所得税 social insurance contribution 社保缴费 pension 养老金 means-tested 家计调查型 资产审查型 human capital 人力资本 returns to education 教育回报 minimum wage 最低工资 labor supply 劳动供给 informal sector 非正规部门 place-based policy 基于地域的政策 industrial policy 产业政策 total factor productivity TFP 全要素生产率
Abstract
Endogenous demand composition across sectors due to income elasticity differences, or Engel's Law for brevity, affects (i) sectoral compositions in employment and in value‐added, (ii) variations in innovation rates and in productivity change across sectors, (iii) intersectoral patterns of trade across countries, and (iv) product cycles from rich to poor countries. Using a two‐country model of directed technical change with a continuum of sectors under nonhomothetic preferences, which is rich enough to capture all these effects as well as their interactions, this paper offers a unifying perspective on how economic growth and globalization affect the patterns of structural change, innovation, and trade across countries and across sectors in the presence of Engel's Law. Among the main messages is that globalization amplifies, instead of reducing, the power of endogenous domestic demand composition differences as a driver of structural change.