Hazan, Moshe; Zoabi, Hosny - C.E.P.R. Discussion Papers - 2005
also casts doubts on recent findings about a positive effect of health on education. This is because health raises the …’s future income proportionally at all levels of education, leaving the relative return between quality and quantity unaffected …. This result is consistent with historical evidence that longevity began to increase long before education did. Our theory …