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| Author: | Lagerlöf, N.-P. |
| Title: | From Malthus to modern growth: can epidemics explain the three regimes? |
| Journal: | International Economic Review
2003 : MAY, VOL. 44:2, p. 755-777 |
| Index terms: | Economic history Economic theory Development economics |
| Language: | eng |
| Abstract: | The authors model demographic and economic long-run development in a setting where mortality is endogenous and subject to epidemic shocks. The model replicates the full transition from Malthusian stagnation to modern growth. Consistent with the historical facts, the economy also passes an intermediate post-Malthusian phase where growth rates of both population and per capita income increase simultaneously, as mortality rates fall and become less volatile. Calibrations show that it can differ by thousands of generations, absent differences in exogenous parameters. |
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