This paper develops a bio-economic Malthusian growth model. By integrating recent research on allometric scaling, energy consumption, and ontogenetic growth we provide a model where subsistence consumption is endogenously linked to body mass and fertility. The theory admits a two-dimensional Malthusian equilibrium characterized by population density and body mass (metabolic rate) of the representative adult. As a result, the analysis allows us to examine the link between, in particular, human biology and long run income, body mass and population size. Off the steady-state we investigate the possibility of cyclical behavior of the size of a population and the size of its representative member. We also demonstrate that a take-off into sustained growth should be associated with increasing income, population size, and body mass. The increase in the latter is, however, bounded and can be viewed as convergence to a biologically determined upper limit.
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Paper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number
06-17.
Find related papers by JEL classification: O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development I12 - Health, Education, and Welfare - - Health - - - Health Production J13 - Labor and Demographic Economics - - Demographic Economics - - - Fertility; Family Planning; Child Care; Children; Youth
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Gary D. Hansen & Edward C. Prescott, 2002.
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[Downloadable!] (restricted)
Other versions:
Gary D. Hansen & Edward C. Prescott, 1998.
"Malthus to Solow,"
NBER Working Papers
6858, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Gary D. Hansen & Edward C. Prescott, 1999.
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Staff Report
257, Federal Reserve Bank of Minneapolis.
[Downloadable!]
Karen E. Dynan & Jonathan Skinner & Stephen P. Zeldes, 2004.
"Do the Rich Save More?,"
Journal of Political Economy,
University of Chicago Press, vol. 112(2), pages 397-444, April.
[Downloadable!] (restricted)
Other versions:
Karen E. Dynan & Jonathan Skinner & Stephen P. Zeldes, 2000.
"Do the Rich Save More?,"
NBER Working Papers
7906, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
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