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DESCRIPTION:&nbsp\;Specialization\, Economic Development and Aggregate Prod
 uctivity Differences Authors: David Lagakos &amp\; Michael E. Waugh Cross-
 country labor productivity differences are large in agriculture and much s
 maller in nonagriculture. We argue that these relative productivity differ
 ences arise when subsistence consumption needs prevent workers in poor cou
 ntries from specializing in the sector in which they are most productive. 
 We formalize our theory by embedding the Roy (1951) model of ability into 
 a two-sector general-equilibrium growth model in which the agents’ prefere
 nces feature a subsistence food requirement. A parameterized version of th
 e model predicts that output per worker gaps will be substantially larger 
 across countries in agriculture than non-agriculture even though countries
  differ only by a sector-neutral efficiency term. Mike Waugh is Assistant 
 Professor of Economics at NYU’s Stern School of Business. His recent work 
 has been published in the American Economic Review. 
DTEND:20100322T200000Z
DTSTAMP:20260510T150629Z
DTSTART:20100322T200000Z
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SUMMARY:TDPE presents: Mike Waugh
UID:RFCALITEM639140079893467700
X-ALT-DESC;FMTTYPE=text/html:&nbsp\;Specialization\, Economic Development a
 nd Aggregate Productivity Differences Authors: David Lagakos &amp\; Michae
 l E. Waugh Cross-country labor productivity differences are large in agric
 ulture and much smaller in nonagriculture. We argue that these relative pr
 oductivity differences arise when subsistence consumption needs prevent wo
 rkers in poor countries from specializing in the sector in which they are 
 most productive. We formalize our theory by embedding the Roy (1951) model
  of ability into a two-sector general-equilibrium growth model in which th
 e agents’ preferences feature a subsistence food requirement. A parameteri
 zed version of the model predicts that output per worker gaps will be subs
 tantially larger across countries in agriculture than non-agriculture even
  though countries differ only by a sector-neutral efficiency term. Mike Wa
 ugh is Assistant Professor of Economics at NYU’s Stern School of Business.
  His recent work has been published in the American Economic Review. 
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