A Theoretical Explanation of Some Stylized Facts of Economic Growth
构建了一个包含制造业、农业和服务业的三商品两国一般均衡模型，解释了服务业在人均收入更高国家更贵、以及随收入增长商品相对服务业生产率上升等典型化事实。
This paper presents a three-good, two-country, general equilibrium model that is consistent with several stylized facts of economic growth. The three goods are manufactures, agriculture, and services. Manufactures are subject to economies of scale. The model predicts that services, a nontraded good, must be more expensive in the country with higher per capita income. It also shows that as per capita income increases, we should expect the productivity in commodities relative to services to rise. The model is able to generate many other stylized facts of economic growth.