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Demographic Transition and Industrial Revolution: A Macroeconomic Investigation

Author

Listed:
  • Michael Bar

    (San Francisco State University)

  • Oksana Leukhina

    (University of North Carolina, Chapel Hill)

Abstract

All industrialized countries have experienced a transition from high birth rates, land-based production and stagnant standards of living to low birth rates and sustained income growth. To develop a better understanding of these economic and demographic transformations and the link between them, we construct a general equilibrium framework merging the Hansen and Prescott (2002) model of structural change with the Barro and Becker (1989) model of fertility choice. We find that when the historical changes of youth mortality and sector-specific productivity are introduced into the model, parameterized to capture key moments of 17th century England, it does remarkably well at generating the long-run features of economic and demographic development of England. (Copyright: Elsevier)

Suggested Citation

  • Michael Bar & Oksana Leukhina, 2010. "Demographic Transition and Industrial Revolution: A Macroeconomic Investigation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 13(2), pages 424-451, April.
    • Handle: RePEc:red:issued:08-85
    DOI: 10.1016/j.red.2009.03.002
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    More about this item

    Keywords

    Industrialization; Structural transformation; Unified growth theory; Technological progress; Demographic transition; Young-age mortality;
    All these keywords.

    JEL classification:

    • J10 - Labor and Demographic Economics - - Demographic Economics - - - General
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • E00 - Macroeconomics and Monetary Economics - - General - - - General

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