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Properties of the demand of a large population introduced by the aggregation process are studied. The idea is to consider assumptions on the distribution of household characteristics rather than focusing on the modelling of individual behavior. By opposite to the existing literature where the...
Persistent link: https://www.econbiz.de/10005043253
-as-you-go pension systems when population ages. When the fertility rate decreases or longevity rises, it is shown that a shift from …
Persistent link: https://www.econbiz.de/10011228294
among the elderly as it is generally effective on a shorter horizon than environmental maintenance. With population aging … generations model with endogenous longevity, where lifespan depends on health care expenditure and environmental quality. We …
Persistent link: https://www.econbiz.de/10008550193
We study how mortality reductins and income growth interact, looking at their relationship prior to the Industrial Revolution, when income per capita was stagnant. We first present a model of individual medical spending giving a rationale for individual health expenditures even when medicine...
Persistent link: https://www.econbiz.de/10005043127
This paper studies the design of the optimal non linear taxation in an economy where longevity varies across agents …, and depends on three factors: longevity genes, health investment and farsightedness. Provided earnings, farsightedness and … redistribution across both earnings and genetic dimensions. Whether longevity-enhancing spending should be subsidized or taxed is …
Persistent link: https://www.econbiz.de/10005042809
in longevity to the cohort born in 1640-9, clearly preceding the Industrial Revolution. Third, we find that this timing … of improvements in longevity concerns most countries in Europe, as well as all types of skilled occupations. Finally, the …
Persistent link: https://www.econbiz.de/10010927719
This paper studies the normative problem of redistribution between agents who can influence their survival probability through private health spending, but who differ in their attitude towards the risks involved in the lotteries of life to be chosen. For that purpose, we develop a two-period...
Persistent link: https://www.econbiz.de/10005043161
where longevity is endogenous. It is shown that the capital per worker maximizing steady-state consumption per head is … inferior to the Golden Rule capital level prevailing under exogenous longevity. We characterize also the Lifetime Golden Rule …
Persistent link: https://www.econbiz.de/10005043413
genetic background, and where longevity depends on health spending and genes. It is shown that, if agents internalize … imperfectly the impact of genes and health spending on longevity, the utilitarian social optimum can be decentralized with type … the production of longevity. …
Persistent link: https://www.econbiz.de/10005065371
This paper analyzes the impact of aging on capital accumulation and welfare in a country with a sizable unfunded social … type of aging and the type of unfunded social security system are important in understanding this impact. We consider two … demographic changes, declining fertility and increasing longevity, and three types of pensions, defined contributions, defined …
Persistent link: https://www.econbiz.de/10011094067