Fertility versus productivity: a model of growth with evolutionary equilibria

James Foreman-Peck and Peng Zhou

Journal of Population Economics, 2021, vol. 34, issue 3, No 10, 1073-1104

Abstract: Abstract We develop a quantitative model that is consistent with three principal building blocks of Unified Growth Theory: the break-out from economic stagnation, the build-up to the Industrial Revolution, and the onset of the fertility transition. Our analysis suggests that England’s escape from the Malthusian trap was triggered by the demographic catastrophes in the aftermath of the Black Death; household investment in children ultimately raised wages despite an increasing population; and rising human capital, combined with the increasing elasticity of substitution between child quantity and quality, reduced target family size and contributed to the fertility transition.

Keywords: Fertility transition; Industrial Revolution; English economy; Economic development (search for similar items in EconPapers)
JEL-codes: J11 N13 O11 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (3)

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Working Paper: Fertility versus Productivity: A Model of Growth with Evolutionary Equilibria (2020)
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DOI: 10.1007/s00148-020-00813-2

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