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The determinants of income in a Malthusian equilibrium

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  • Sharp, Paul
  • Strulik, Holger
  • Weisdorf, Jacob

Abstract

This study constructs a simple, two-sector Malthusian model with agriculture and industry, and uses it to identify the determinants of income in a Malthusian equilibrium. We make standard assumptions about preferences and technologies, but in contrast to existing studies we assume that children and other consumption goods are gross substitutes. Consistent with the conventional Malthusian model, the present theory shows that productivity growth in agriculture has no effect on equilibrium income. More importantly, we also show that equilibrium income varies, not just with the death rate as has recently been demonstrated in the literature, but also with the level of productivity in the industrial sector. An empirical analysis using data for pre-industrial England lends support to both hypotheses.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Development Economics.

Volume (Year): 97 (2012)
Issue (Month): 1 ()
Pages: 112-117

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Handle: RePEc:eee:deveco:v:97:y:2012:i:1:p:112-117

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Web page: http://www.elsevier.com/locate/devec

Related research

Keywords: Malthusian model; Subsistence income;

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References

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  1. Quamrul Ashraf & Oded Galor, 2011. "Dynamics and Stagnation in the Malthusian Epoch," NBER Working Papers 17037, National Bureau of Economic Research, Inc.
  2. Kevin O’rourke & Jeffrey Williamson, 2005. "From Malthus to Ohlin: Trade, Industrialisation and Distribution Since 1500," Journal of Economic Growth, Springer, vol. 10(1), pages 5-34, 01.
  3. Nicolini, Esteban A., . "Was malthus right? a var analysis of economic and demographic interactions in pre-industrial England," Open Access publications from Universidad Carlos III de Madrid info:hdl:10016/420, Universidad Carlos III de Madrid.
  4. Holger Strulik & Jacob Weisdorf, 2008. "Population, food, and knowledge: a simple unified growth theory," Journal of Economic Growth, Springer, vol. 13(3), pages 195-216, September.
  5. Gregory Clark, 2007. "Introduction to A Farewell to Alms: A Brief Economic History of the World," Introductory Chapters, in: A Farewell to Alms: A Brief Economic History of the World Princeton University Press.
  6. Carl-Johan Dalgaard & Holger Strulik, 2010. "The Physiological Foundations of the Wealth of Nations," Discussion Papers 10-05, University of Copenhagen. Department of Economics.
  7. Juselius, Katarina, 2006. "The Cointegrated VAR Model: Methodology and Applications," OUP Catalogue, Oxford University Press, number 9780199285679, September.
  8. Gary D. Hansen & Edward C. Prescott, 1998. "Malthus to Solow," NBER Working Papers 6858, National Bureau of Economic Research, Inc.
  9. Strulik, Holger, 2010. "A Note On Economic Growth With Subsistence Consumption," Macroeconomic Dynamics, Cambridge University Press, vol. 14(05), pages 763-771, November.
  10. Broadberry,Steve N., 1997. "The Productivity Race," Cambridge Books, Cambridge University Press, number 9780521584401.
  11. Allen, Robert C., 1992. "Enclosure and the Yeoman: The Agricultural Development of the South Midlands 1450-1850," OUP Catalogue, Oxford University Press, number 9780198282969, September.
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Citations

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Cited by:
  1. Carl-Johan Dalgaard & Holger Strulik, 2010. "The Physiological Foundations of the Wealth of Nations," Discussion Papers 10-05, University of Copenhagen. Department of Economics.
  2. Holger Strulik, 2012. "From Worship to Worldly Pleasures: Secularization and Long-Run Economic Growth," Courant Research Centre: Poverty, Equity and Growth - Discussion Papers 116, Courant Research Centre PEG.
  3. Strulik, Holger, 2010. "Knowledge and Growth in the Very Long-Run," Diskussionspapiere der Wirtschaftswissenschaftlichen Fakultät der Leibniz Universität Hannover dp-459, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
  4. Strulik, Holger, 2012. "Knowledge and growth in the very long run," Center for European, Governance and Economic Development Research Discussion Papers 145, University of Goettingen, Department of Economics.

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