Growth and welfare under endogenous lifetime

Arbeitspapier

We develop a perpetual youth model to investigate how longevity affects economic growth and welfare. Life expectancy is determined by individuals' investments in healthcare. We find that improvements in the healthcare technology always increase the steady state growth rate. Although the effect is small, even for large increases in longevity, welfare gains may be substantial depending on the type of the technological improvement. We identify two externalities associated with healthcare investments and provide a condition when healthcare expenditures are inefficiently low in the market equilibrium. Finally, we discuss our results with respect to alternative spillover specifications in the production sector.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Discussion Papers ; No. 10-13

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Economic Growth and Aggregate Productivity: General ; Health: General ; Demographic Economics: General
• Thema: economic growth ; endogenous longevity ; healthcare expenditures ; healthcare technology ; quality-quantity trade-off ; Sterblichkeit ; Wirtschaftswachstum ; Gesundheitsversorgung ; Technischer Fortschritt ; Gesundheitskosten ; Wohlfahrtsanalyse ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Schneider, Maik T. ; Winkler, Ralph
• Ereignis: Veröffentlichung
• (wer): University of Bern, Department of Economics
• (wo): Bern
• (wann): 2010

Weitere Informationen

• Handle: http://hdl.handle.net/10419/76747
• Letzte Aktualisierung: 10.03.2025, 11:41 MEZ