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The Three Horsemen of Riches: Plague, War, and Urbanization in Early Modern Europe

Nico Voigtländer, Hans-Joachim Voth

Review of Economic Studies 80(2), pp. 774-811 (2013)

Published version Data

Abstract

How did Europe escape the Iron Law of Wages? We construct a simple Malthusian model with two sectors and multiple steady states, and use it to explain why European per capita incomes and urbanization rates increased during the period 1350-1700.

Keywords
Malthusian economy, plague, urbanization, Black Death, long-run growth
DOI
10.1093/restud/rds034
Canonical
https://www.jvoth.com/papers/three-horsemen-of-riches.html

Nico Voigtländer, Hans-Joachim Voth (2013). “The Three Horsemen of Riches: Plague, War, and Urbanization in Early Modern Europe.” Review of Economic Studies.