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Bo Zhao

Associate Professor of Economics · National School of Development, Peking University

Associate Professor of Economics at the National School of Development, Peking University. Fields are macroeconomics, economic growth and structural transformation.

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Online First The Economic Journal Online 20 Jan 2026

Business Cycle during Structural Change: Arthur Lewis' Theory from a Neoclassical Perspective

Kjetil Storesletten · Bo Zhao · Fabrizio Zilibotti

This paper asks why the nature of business cycles changes systematically as economies develop and shed their large agricultural sectors. The motivation is both empirical and theoretical.

Labor Markets Macro Dynamics Economic Growth Free Read ↗