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Malthusian Stagnation is Efficient

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  • Cordoba, Juan C.
  • Liu, Xiying

Abstract

Malthusian economies are generally deemed inefficient: stagnated, highly unequal, and densely populated by a labouring class prone to high fertility. This article defines and characterizes efficient allocations in Malthusian environments of fixed resources and endogenous fertility. We show, that under general conditions, efficient allocations exhibit stagnation in standards of living, inequality, differential fertility, and a high population density of poorer individuals.

Suggested Citation

  • Cordoba, Juan C. & Liu, Xiying, 2016. "Malthusian Stagnation is Efficient," ISU General Staff Papers 201611270800001010, Iowa State University, Department of Economics.
  • Handle: RePEc:isu:genstf:201611270800001010
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    7. de la Croix,David, 2014. "Fertility, Education, Growth, and Sustainability," Cambridge Books, Cambridge University Press, number 9781107443051.
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    9. Gary S. Becker & Robert J. Barro, 1988. "A Reformulation of the Economic Theory of Fertility," The Quarterly Journal of Economics, Oxford University Press, vol. 103(1), pages 1-25.
    10. Ng, Yew-Kwang, 1986. "Social criteria for evaluating population change: An alternative to the Blackorby-Donaldson criterion," Journal of Public Economics, Elsevier, vol. 29(3), pages 375-381, April.
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    12. Nerlove, Marc & Razin, Assaf & Sadka, Efraim, 1986. "Endogenous Population with Public Goods and Malthusian Fixed Resources: Efficiency or Market Failure," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 27(3), pages 601-609, October.
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