Industrial Revolutions and Demographic Transitions
AbstractWe generalize the class of growth models in which the scale of the economy has level rather than growth effects, and study the implications of different demographic and research policies when both fertility choice and research effort are endogenous. The model incorporates two dimensions of technological progress: vertical (quality of goods) and horizontal (variety of goods). Both dimensions contribute to productivity growth but are driven by different processes and hence react differently to specific policies. For example, while unbounded vertical progress is feasible, the scale of the economy limits the variety of goods. Incorporating Jones' (1998) suggestion of a natural linearity in reproduction generates steady-state population growth and variety expansion. We thus have two engines of growth generating dynamics that we compare with observed changes in demographics, market structure, and patterns of growth. This allows us to study industrial revolutions and demographic transitions as two interdependent forces driving a country's process of economic transformation.
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Bibliographic InfoPaper provided by Duke University, Department of Economics in its series Working Papers with number 99-11.
Date of creation: 1999
Date of revision:
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Postal: Department of Economics Duke University 213 Social Sciences Building Box 90097 Durham, NC 27708-0097
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Web page: http://econ.duke.edu/
Find related papers by JEL classification:
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
- L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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