Prices, Wages and Fertility in Pre-Industrial England
AbstractA two-sector Malthusian model is formulated in terms of a cointegrated vector autoregressive (CVAR) model on error correction form. The model allows for both agricultural product wages and relative prices to affect fertility. The model is estimated using new data for the pre-industrial period in England, and the analysis reveals a strong, positive effect of agricultural wages as well as a small and, surprisingly, positive effect of real agricultural prices on fertility. Furthermore, it is demonstrated that there is constant returns to scale with respect to labour in the manufacturing sector and strongly decreasing returns to scale in the agricultural sector.
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Bibliographic InfoPaper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 11-20.
Length: 20 pages
Date of creation: Aug 2011
Date of revision:
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Malthus; cointegration; pre-industrial England;
Other versions of this item:
- Marc P. B. Klemp, 2012. "Prices, wages and fertility in pre-industrial England," Cliometrica, Journal of Historical Economics and Econometric History, Association Française de Cliométrie (AFC), vol. 6(1), pages 63-77, January.
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- N3 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-08-15 (All new papers)
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