Prices, Wages and Fertility in Pre-Industrial England

Marc Klemp

No 11-20, Discussion Papers from University of Copenhagen. Department of Economics

Abstract: A 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.

Keywords: Malthus; cointegration; pre-industrial England (search for similar items in EconPapers)
JEL-codes: C32 N3 O1 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2011-08
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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Related works:
Journal Article: Prices, wages and fertility in pre-industrial England (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:kud:kuiedp:1120

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