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Baumol’s model of unbalanced growth is also known as a model of “the cost disease”.

This page updated November 2002. Thanks to Nick Oulton for his suggestions.

Baumol, W. J. (1967). Macroeconomics of unbalanced growth: the anatomy of urban crisis. American Economic Review, 57, 415-426

Baumol, W. J. (1985). Productivity policy and the service sector. In R. P. Inman (ed.) Managing the service economy: prospects and problems. Cambridge: Cambridge University Press.

Baumol, W. J., Batey Blackman, S. A. and Wolff, E. N. (1989). Productivity and American leadership. Cambridge, MA: The MIT Press.

Oulton, Nicholas (2001). Must the growth rate decline? Baumol’s unbalanced growth revisited. Oxford Economic Papers, October, 53(4), 605-27.

Rowthorn, R. and Ramaswamy, R. (1997). Deindustrialisation: causes and implications. Staff Studies for the World Economic Outlook. Washington, DC: International Monetary Fund.

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