endogenous fertility. It is shown that development traps due to under investments in health can never appear when fertility is an …

government invests in public health (Chakraborty, 2004) and the individual survival probability at the end of youth depends on … health expenditure through an S-shaped longevity function. This may give rise to four steady states and, hence, development …

of weak altruism towards children. The government invests in public health, and an individual’s survival probability at … the end of youth depends on health expenditure. We show that multiple development regimes can exist. However, poverty or …, (ii) the government issues an amount of public debt. Interestingly, there also exists a couple child tax-health tax that …

opportunity cost of bearing children and, hence, stimulates (depresses) fertility. The policy implications are straightforward … internalise the externality of children, while also representing a Pareto improvement. …

dependent on the individual health status (a rather realistic assumption especially in the current world with high longevity …). In contrast to an economy without public health spending – which is always stable with monotonic trajectories –, an … economy with tax-financed health care services (which in turn affect the individual health status and hence the length of the …

). We show that poverty traps due to scarce public investments in health can exist. However, and most important, the … existence of unintentional bequests makes the health tax rate to play a prominent role in determining the stability conditions … can occur depending on the size of the public health system. …