While we're at it, might as well add that more natalism means less capital concentration :
-having and educating children is a massive financial drain
-forgoing or limiting those expenditure often result in the accumulation of capital, if only to prepare for retirement, which will be poured in the stock-market, real estate, etc...
-lots of children/heirs = quicker dispersion of capital
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Numerous times in history.
It's been documented that catastrophic major demographic reductions like the Black Death, by drastically lowering the supply of labour, resulted in higher wages and lower rents.
More recently, the first centuries of colonization of the Americas were marked by an extreme lack of labor respective to the abundance of land.