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We set up a stochastic open‐economy growth model with endogenous fertility and mortality. A three‐country version of the model is calibrated to pre‐industrial mortality data from England, France and Sweden. By fitting parameters to match observed rates of correlation in mortality rates, the model can also account for differences in both the volatility of mortality rates and the timing of the Industrial Revolution.
The Scandinavian Journal of Economics – Wiley
Published: Sep 1, 2003
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