Arbeitspapier
The demographic transition in a unified growth model of the English economy
A dynamic stochastic unified growth model is estimated from English economy data for almost a millennium. At the core of the (seven) overlapping generations, rational expectations structure is household choice about target number and quality of children. The trends of births, deaths, population and, the real wage, are closely matched by the estimated model. In the 19th century English fertility transition, the model shows how the generalized child price relative to the child quality price rose. The rising opportunity cost of education was as decisive for the transition as the parental shift to child quality.
- Sprache
-
Englisch
- Erschienen in
-
Series: Cardiff Economics Working Papers ; No. E2019/8
Klassifikation
Wirtschaft
Macroeconomic Analyses of Economic Development
Demographic Trends, Macroeconomic Effects, and Forecasts
Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Europe: Pre-1913
Macroeconomic Analyses of Economic Development
Demographic Trends, Macroeconomic Effects, and Forecasts
Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Europe: Pre-1913
Thema
Economic Development
Demography
Unified Growth
Overlapping Generations
English Economy
Demography
Unified Growth
Overlapping Generations
English Economy
Ereignis
Geistige Schöpfung
(wer)
Foreman-Peck, James S.
Zhou, Peng
Zhou, Peng
Ereignis
Veröffentlichung
(wer)
Cardiff University, Cardiff Business School
(wo)
Cardiff
(wann)
2019
- Handle
- Letzte Aktualisierung
-
12.07.2024, 13:21 MESZ
Objekttyp
- Arbeitspapier
Beteiligte
- Foreman-Peck, James S.
- Zhou, Peng
- Cardiff University, Cardiff Business School
Entstanden
- 2019
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