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On the heterogeneity of sectoral growth and structural dynamics: Evidence from Austrian manufacturing industries
[Zeitschriftenartikel]
Abstract This paper studies the factors driving structural dynamics across Austrian manufacturing industries. Using a SVAR framework we identify sectoral labor productivity and demand shocks that are orthogonal to aggregate shocks. We analyze the sectoral impulse-response patterns and find that the effect of... mehr
This paper studies the factors driving structural dynamics across Austrian manufacturing industries. Using a SVAR framework we identify sectoral labor productivity and demand shocks that are orthogonal to aggregate shocks. We analyze the sectoral impulse-response patterns and find that the effect of industry labor productivity shocks on industry output growth is quite heterogeneous. We devise a taxonomy that allows us to classify industries according to the effect productivity and demand shocks have on output growth. We also show that productivity shocks are quite heterogeneous not just across industries but also over time, whereas shocks to sectoral demand growth are more systematic. We test the taxonomy in a panel regression and are able to confirm our sector specific findings. Industry demand shocks and aggregate productivity and demand shocks lead always to an increase in industry output and industry employment.... weniger
Klassifikation
Allgemeines, spezielle Theorien und "Schulen", Methoden, Entwicklung und Geschichte der Wirtschaftswissenschaften
Freie Schlagwörter
sectoral output growth; productivity shocks; demand shocks; structural change; sectoral taxonomy
Sprache Dokument
Englisch
Publikationsjahr
2010
Seitenangabe
31 S.
Zeitschriftentitel
Applied Economics (2010)
DOI
https://doi.org/10.1080/00036840903299748
Status
Postprint; begutachtet (peer reviewed)
Lizenz
PEER Licence Agreement (applicable only to documents from PEER project)