Health investment, saving, and public policy

This paper develops an overlapping-generations model in which agents invest in health to prolong life in both working and retirement periods. It explores how unfunded social security with or without health subsidies affects life expectancy, economic growth, and welfare. In particular, by extending life at a possible cost of capital accumulation, health subsidies and a pay-as-you-go pension can improve welfare, especially in the short run.

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Year of publication:	2006
Authors:	Zhang, Jie ; Zhang, Junsen ; Leung, Michael
Published in:	Canadian Journal of Economics. - Canadian Economics Association - CEA. - Vol. 39.2006, 1, p. 68-93
Publisher:	Canadian Economics Association - CEA

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Extent:	application/pdf
Type of publication:	Article
Notes:	Published
Classification:	I12 - Health Production: Nutrition, Mortality, Morbidity, Substance Abuse and Addiction, Disability, and Economic Behavior ; J14 - Economics of the Elderly ; J18 - Public Policy ; O11 - Macroeconomic Analyses of Economic Development
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005467173