Mortality, interest rates, investment, and agricultural production in 18th century England

Nicolini, Esteban A.

doi:10.1016/j.eeh.2003.09.001

Cited by 24 publications

(17 citation statements)

References 26 publications

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“…This is small especially compared to the important role is was supposed to play in Nicolini (2004) for England and Boucekkine, de la Croix, and Licandro (2003) for Western Europe as a whole. Looking first at the raw data, Figure 9 compares the survival function in England as estimated by Wrigley, Davies, Oeppen, and Schofield (1997) to the one in Geneva (Perrenoud 1978).…”

Section: Further Discussion Of the Resultsmentioning

confidence: 99%

“…(A) Exogenous technical progress in the modern sector increased the return to investment in education (Hansen and Prescott 2002). (B) Lower mortality increased the return to education and induced higher investment in human capital (see Boucekkine, de la Croix, and Licandro (2003) and Nicolini (2004)). (C) Rising density of population induced economic gains which in turn raised the incentive to educate (Galor and Weil 2000).…”

Section: Resultsmentioning

confidence: 99%

“…the discussion in Fridlizius (1985)). Boucekkine, de la Croix, and Licandro (2003) and Nicolini (2004) argue that lower mortality induced higher investment in human capital and/or in physical capital, therefore paving the way to future growth. This could only be part of the story however, as shown by English data.…”

Section: Introductionmentioning

confidence: 99%

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Early Literacy Achievements, Population Density and the Transition to Modern Growth

2005

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The transition from economic stagnation to sustained growth is often modelled thanks to "population-induced" productivity improvements, which are assumed rather than derived from primary assumptions. In this paper the effect of population on productivity is derived from optimal behavior. More precisely, both the number and location of education facilities are chosen optimally by municipalities. Individuals determine their education investment depending on the distance to the nearest school, and also on technical progress and longevity. In this setting, higher population density enables the set-up costs of additional schools to be covered, opening the possibility to reach higher educational levels. Using counterfactual experiments we find that one third of the rise in literacy can be directly attributed to the effect of density, while one sixth is linked to higher longevity and one half to technical progress. Moreover, the effect of population density in the model is consistent with the available evidence for England, where it is shown that schools were established at a high rate over the period 1540-1620.

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Section: Further Discussion Of the Resultsmentioning

confidence: 99%

Section: Resultsmentioning

confidence: 99%

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Early Literacy Achievements, Population Density and the Transition to Modern Growth

2005

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“…Analogous ideas were used by Boucekkine et al (2003) and Nicolini (2004) to shed light on the historically observed relationship between rising life expectancy and the acceleration of growth in the period before the Industrial Revolution. The effects of an exogenous reduction of mortality on growth have also been shown to be shaped by social security systems, in a framework where fertility decisions are endogenous and parents face a trade-off between the quality and the quantity of their children (Zhang et al, 2001).…”

Section: Literature Reviewmentioning

confidence: 99%

“…The path from growth to longevity is reviewed for example in Fogel (1994). The effect of longevity on growth is quantitatively assessed by Boucekkine et al (2003) and Nicolini (2004) who show that small improvements in adult life expectancy in the eighteenth century caused big changes in economic decisions, leading to an acceleration in income growth.…”

Section: Introductionmentioning

confidence: 99%

A Theory of Medical Effectiveness, Differential Mortality, Income Inequality and Growth for Pre-Industrial England

Croix

Sommacal

2009

Mathematical Population Studies

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The interactions between mortality reductions and income growth are studied, with a special attention at their relationship prior to the Industrial Revolution, when income per head was stagnant. The choice of individual medical spending is modelled, giving a rationale for individual health expenditures even when medicine is not effective in postponing death. The rise of effective medicine is then explained by a learning process function of expenditure on health. The rise in effective medicine is linked to the economic growth of the eighteenth century through life expectancy increases which foster capital accumulation. The rise of effective medicine has also had an effect on the relationship between growth and inequality and on the intergenerational persistence of differences in income. These channels are operative through differential mortality induced by medical effectiveness that turns out to determine a differential in the propensity to save among income groups.differential mortality, health expenditure, life expectancy, propensity to save,

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A comonotonicity-based valuation method for guaranteed annuity options

Liu

Mamon

Huan

2013

Journal of Computational and Applied Mathematics

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Mortality, interest rates, investment, and agricultural production in 18th century England

Cited by 24 publications

References 26 publications

Early Literacy Achievements, Population Density and the Transition to Modern Growth

Early Literacy Achievements, Population Density and the Transition to Modern Growth

A Theory of Medical Effectiveness, Differential Mortality, Income Inequality and Growth for Pre-Industrial England

A comonotonicity-based valuation method for guaranteed annuity options

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