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Author Info
Jochen Hartwig () (KOF Swiss Economic Institute, ETH Zurich)

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Abstract

The paper draws on Baumol’s (1967) model of «unbalanced growth» to show that pressing economic problems of mature economies such as declining growth rates of real GDP, an increasing government share in GDP and the «cost explosion» in health care can readily be explained – yet they cannot be finally resolved. Swiss economic data are used to verify that the economic developments Baumol’s model predicts are indeed underway. Some policy as well as politico-economic conclusions are drawn from these insights.

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Publisher Info
Paper provided by KOF Swiss Economic Institute, ETH Zurich in its series Working papers with number 05-112.

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Length: 30 pages
Date of creation: Nov 2005
Date of revision:
Handle: RePEc:kof:wpskof:05-112

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Related research
Keywords: Unbalanced growth; Rise in government share of GDP; Health care cost explosion; Declining GDP growth rates; Switzerland;

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Find related papers by JEL classification:
H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
O51 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Yngve Abrahamsen & Roland Aeppli & Erdal Atukeren & Michael Graff & Christian Müller & Bernd Ships, 2005. "The Swiss Disease: Facts and Artefacts, A Reply to Kehoe and Prescott," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 8(3), pages 749-758, July. [Downloadable!] (restricted)
  2. Jochen Hartwig & Bernd Schips, 2004. "Verzerrungen von Konsumentenpreisindizes und ihr Einfluss auf das «reale» Wirtschaftswachstum – dargestellt am Beispiel der USA," Working papers 04-94, KOF Swiss Economic Institute, ETH Zurich. [Downloadable!]
    Other versions:
  3. Oulton, Nicholas, 2001. "Must the Growth Rate Decline? Baumol's Unbalanced Growth Revisited," Oxford Economic Papers, Oxford University Press, vol. 53(4), pages 605-27, October.
    Other versions:
  4. Jacob Mincer, 1958. "Investment in Human Capital and Personal Income Distribution," Journal of Political Economy, University of Chicago Press, vol. 66, pages 281. [Downloadable!] (restricted)
  5. Mark Setterfield, 2003. "Supply and Demand in the Theory of Long-run Growth: introduction to a symposium on demand-led growth," Review of Political Economy, Taylor and Francis Journals, vol. 15(1), pages 23-32, January. [Downloadable!] (restricted)
  6. Jack E. Triplett & Barry P. Bosworth, 2003. "Productivity measurement issues in services industries: "Baumol's disease" has been cured," Economic Policy Review, Federal Reserve Bank of New York, issue Sep, pages 23-33. [Downloadable!]
  7. Jochen Hartwig, 2005. "Messprobleme bei der Ermittlung des Wachstums der Arbeitsproduktivität – dargestellt anhand eines Vergleichs der Schweiz mit den USA," Working papers 05-100, KOF Swiss Economic Institute, ETH Zurich. [Downloadable!]
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  8. Kander, Astrid, 2005. "Baumol's disease and dematerialization of the economy," Ecological Economics, Elsevier, vol. 55(1), pages 119-130, October. [Downloadable!] (restricted)
  9. Baumol, William J, 1972. "Macroeconomics of Unbalanced Growth: Reply," American Economic Review, American Economic Association, vol. 62(1), pages 150, March.
  10. Anita Wölfl, 2003. "Productivity Growth in Service Industries: An Assessment of Recent Patterns and the Role of Measurement," OECD Science, Technology and Industry Working Papers 2003/7, OECD, Directorate for Science, Technology and Industry. [Downloadable!]
  11. Jochen Hartwig, 2005. "On misusing National Accounts data for governance purposes," Working papers 05-101, KOF Swiss Economic Institute, ETH Zurich. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Jochen Hartwig, 2006. "What Drives Health Care Expenditure? Baumol’s Model of ‘Unbalanced Growth’ Revisited," Working papers 06-133, KOF Swiss Economic Institute, ETH Zurich. [Downloadable!]
    Other versions:
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