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ECONOMIC GROWTH AND EVOLUTION: PARENTAL PREFERENCE FOR QUALITY AND QUANTITY OF OFFSPRING
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Titel: |
ECONOMIC GROWTH AND EVOLUTION: PARENTAL PREFERENCE FOR QUALITY AND QUANTITY OF OFFSPRING |
In: | Macroeconomic Dynamics, 18, 2014, 8, S. 1773-1796 |
veröffentlicht: |
Cambridge University Press (CUP)
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Umfang: | 1773-1796 |
ISSN: |
1365-1005 1469-8056 |
DOI: | 10.1017/s1365100513000163 |
Zusammenfassung: | <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> |
Format: | E-Article |
Quelle: | Cambridge University Press (CUP) (CrossRef) |
Sprache: | Englisch |