ECONOMIC GROWTH AND EVOLUTION: PARENTAL PREFERENCE FOR QUALITY AND QUANTITY OF OFFSPRING

Bibliographic Details
Authors and Corporations: Collins, Jason, Baer, Boris, Weber, Ernst Juerg
Title: ECONOMIC GROWTH AND EVOLUTION: PARENTAL PREFERENCE FOR QUALITY AND QUANTITY OF OFFSPRING
In: Macroeconomic Dynamics, 18, 2014, 8, p. 1773-1796
published:
Cambridge University Press (CUP)
Physical Description:1773-1796
ISSN/ISBN: 1365-1005
1469-8056
Summary:<jats:p>This paper presents a quantitative analysis of the model developed by Galor and Moav [Galor, Oded and Omer Moav (2002) Natural selection and the origin of economic growth.<jats:italic>Quarterly Journal of Economics</jats:italic>117(4), 1133–1191] in which agents vary genetically in their preference for quality and quantity of children. The simulation produces a pattern of income and population growth that resembles the period of Malthusian stagnation before the Industrial Revolution and the take-off into a modern growth era. We also investigate the stability of the modern growth era as an absorbing state of the model under the introduction of a strongly quantity-preferring genotype. We show that, given the absence of a scale effect of population in the model, the economy can regress to a Malthusian state under this change in the initial distribution of genotypes.</jats:p>
Type of Resource:E-Article
Source:Cambridge University Press (CUP) (CrossRef)
Language: English