Reports from Federal Reserve Bank Provide New Insights into Economics (On the Transition To Sustained Growth: the Importance of Recent Agricultural Employment): Economics

2025 OCT 06 (NewsRx) -- By a News Reporter-Staff News Editor at Economics Daily Report -- Investigators publish new report on Economics. According to news reporting originating in St. Louis, Missouri, by NewsRx journalists, research stated, “We study a model where a single good can be produced using a diminishing-returns technology (Malthus) and a constant-returns technology (Solow).”

The news reporters obtained a quote from the research from Federal Reserve Bank, “We map the former to agriculture and show that the share of agricultural employment declines at a constant rate during the economic transition and that recent observations on the share are sufficient to estimate the onset of transition. Our model implies that (i) output growth is higher and increasing after the onset of transition, (ii) during the transition, it is a first-order autoregressive process, and (iii) the rate of decline in the share of agricultural employment is a sufficient statistic for the autoregressive coefficient.”

According to the news reporters, the research concluded: “Our quantitative results are consistent with these implications for developed economies over more than a century despite the changes in the sectoral composition of output and for today’s developing economies in various stages of development and structural transformation.”

This research has been peer-reviewed.

For more information on this research see: On the Transition To Sustained Growth: the Importance of Recent Agricultural Employment. Review of Economic Dynamics, 2025;58. Review of Economic Dynamics can be contacted at: Academic Press Inc Elsevier Science, 525 B St, Ste 1900, San Diego, CA 92101-4495, USA. (Elsevier - www.elsevier.com; Review of Economic Dynamics - http://www.journals.elsevier.com/review-of-economic-dynamics/)

Our news correspondents report that additional information may be obtained by contacting B. Ravikumar, Federal Reserve Bank, Division of Research, Pob 442, St. Louis, MO 63166, United States.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1016/j.red.2025.101291. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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