NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Two Perspectives on Preferences and Structural Transformation

Berthold Herrendorf, Richard Rogerson, Ákos Valentinyi

NBER Working Paper No. 15416
Issued in October 2009

---- Acknowledgements -----

The authors thank Stuart Low and Ed Prescott for many helpful conversations about the topic of this paper. For comments and suggestions, the authors thank Paco Buera, Joe Kaboski, and the conference participants at the SED meetings in Prague (2007) and Istanbul (2009), the conference of the Society for the Advancement of Economic Theory in Kos (2007), the RMM conference in Toronto (2008), the conference on Developments in Macroeconomics at Yonsei University (2009), as well as seminar participants at ASU, Bonn, the San Francisco FED, Southampton, UCLA, Western Ontario, and York (Toronto). For financial support, Herrendorf thanks the Spanish Ministry of Education (Grant SEJ2006-05710/ECON) and Rogerson thanks both the NSF and the Korea Science Foundation (WCU-R33-10005). Hubert Janicki, Loris Rubini, and Paul Schreck provided able research assistance. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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