Seminario CEDE - Luis Felipe Saenz
Standards of living were roughly constant before 1800, almost everywhere. In the early 19th century, English-speaking countries began a process of sustained economic growth that continues today. We document that this rise in living standards—first observed in Great Britain and the United States—is now a global phenomenon. Across countries, we observe four robust patterns along the development path: (i) a reallocation of labor out of agriculture, (ii) a demographic transition, (iii) rising human capital, and (iv) a U-shaped trajectory of female labor force participation.