Prices, Wages and Fertility in Pre-Industrial England
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Prices, Wages and Fertility in Pre-Industrial England. / Klemp, Marc.
Department of Economics, University of Copenhagen, 2011.Research output: Working paper › Research
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TY - UNPB
T1 - Prices, Wages and Fertility in Pre-Industrial England
AU - Klemp, Marc
N1 - JEL Classification: C32, N3, O1
PY - 2011/8
Y1 - 2011/8
N2 - A two-sector Malthusian model is formulated in terms of a cointegrated vectorautoregressive (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 agriculturalsector.
AB - A two-sector Malthusian model is formulated in terms of a cointegrated vectorautoregressive (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 agriculturalsector.
KW - Malthus
KW - cointegration
KW - pre-industrial England
M3 - Working paper
BT - Prices, Wages and Fertility in Pre-Industrial England
PB - Department of Economics, University of Copenhagen
ER -
ID: 33854731