Unified Growth Theory uncovers the forces that contributed to the existence of multiple growth regimes and the emergence of convergence clubs. It suggests that differential timing of take-offs from stagnation to growth segmented economies into three fundamental regimes: slow growing economies in...

This Paper examines the process of development from an epoch of Malthusian stagnation to a state of sustained economic growth. The analysis focuses on recently advanced unified growth theories that capture the intricate evolution of income per capita, technology, and population over the course...

This paper examines a novel mechanism linking fertility and growth. There are three components to the model. First, increases in capital per worker raise women's relative wages, since capital is more complementary to women's labour input than to men's. Second, increasing women's relative wages...

This research advances an evolutionary growth theory that captures the pattern of life expectancy in the process of development, shedding new light on the sources of the remarkable rise in life expectancy since the Agricultural Revolution. The theory suggests that social, economic and...

This paper analyzes the steady-state welfare implications of a Hicks-neutral technological progress, or alternatively, of an i nternational transfer of a Hicks-neutral superior technology within a n overlapping generations framework. The analysis indicates that prod ucers will be induced by...

This paper analyzes the effects of transitory productivity shocks on long-run output. The study demonstrates that, despite it transitory nature, an adverse productivity shock may result in lower long-run output. A fall in productivity reduces output and savings and, consequently, the interest...