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Life Expectancy, Labor Supply, and Long-Run Growth : Reconciling Theory and Evidence
Strulik, Holger; Werner, Katharina - 2014
increasing education and declining labor supply (of cohorts born 1850-1950) as an optimal response to increasing active life … expectancy. We integrate the theory into a unified growth model and reestablish increasing life expectancy as an engine of long …
Persistent link: https://www.econbiz.de/10014165522
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The supply of hours worked and fluctuations between growth regimes
Iong, Ka-Kit; Irmen, Andreas - 2021
Declining hours of work per worker in conjunction with a growing work force may give rise to fluctuations between growth regimes. This is shown in an overlapping generations model with two-period lived individuals endowed with Boppart-Krusell preferences (Boppart and Krusell (2020)). On the...
Persistent link: https://www.econbiz.de/10012499514
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How sustainable are old-age pensions in a shrinking population with endogenous labour supply?
Cardoso, Pedro; Praag, Bernard M. S. van - 2003
In this paper we model an OLG-economy where labour supply is endogenously determined and where we assume that there are two pension systems, namely, a pay-as-you-go system and a funded system. The main question is whether there is an equilibrium involving an old-age pensions system, partly...
Persistent link: https://www.econbiz.de/10011514183
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How Sustainable are Old-Age Pensions in a Shrinking Population with Endogenous Labour Supply?
Cardoso, Pedro; van Praag, B.M.S - 2021
In this paper we model an OLG-economy where labour supply is endogenously determined and where we assume that there are two pension systems, namely, a pay-as-you-go system and a funded system. The main question is whether there is an equilibrium involving an old-age pensions system, partly...
Persistent link: https://www.econbiz.de/10013320072
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Life expectancy and economic growth : the role of the demographic transition
Cervellati, Matteo; Sunde, Uwe - 2009
individuals' education and fertility decisions depend on their life expectancy. The theory predicts that before the demographic … the role of the econometric specification. We present a simple theory of the economic and demographic transition where …. We provide evidence supporting these predictions using data on exogenous mortality reductions in the context of the …
Persistent link: https://www.econbiz.de/10003837588
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Life Expectancy and Economic Growth : The Role of the Demographic Transition
Cervellati, Matteo - 2009
individuals' education and fertility decisions depend on their life expectancy. The theory predicts that before the demographic … the role of the econometric specification. We present a simple theory of the economic and demographic transition where …. We provide evidence supporting these predictions using data on exogenous mortality reductions in the context of the …
Persistent link: https://www.econbiz.de/10013159658
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Life expectancy, schooling, and lifetime labor supply : theory and evidence revisited
Cervellati, Matteo; Sunde, Uwe - 2013
This paper presents a theoretical and empirical analysis of the role of life expectancy for optimal schooling and lifetime labor supply. The results of a simple prototype Ben-Porath model with age-specific survival rates show that an increase in lifetime labor supply is not a necessary, nor a...
Persistent link: https://www.econbiz.de/10009721323
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Health Expenditures, Longevity and Growth
Dormont, Brigitte; Oliveira Martins, Joaquim; Pelgrin, … - 2015
This paper offers an integrated view of the relationships between health spending, medical innovation, health status, growth and welfare. Health spending triggers technological progress, which is a potential source of better outcomes in terms of longevity and quality of life, a direct source of...
Persistent link: https://www.econbiz.de/10014047534
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Growth and Welfare Implications of Mortality Differentials in Unfunded Social Security Systems
Kelly, Mark - 2021
Several recent studies have examined the steady-state welfare implications of mortality differentials within unfunded … of mortality inequality within the U.S. Social Security system. Utilizing an OLG endogenous growth model of the U ….S. economy, I compare the current pay-as-you-go (PAYG) system to versions of the model without either mortality differentials or …
Persistent link: https://www.econbiz.de/10013217547
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50 is the new 30 : long-run trends of schooling and retirement explained by human aging
Strulik, Holger; Werner, Katharina - 2013
this paper we propose a novel theory, based on health and aging, that explains these long-run trends. Workers optimally … respond to a longer stay in a healthy state of high productivity by obtaining more education and supplying less labor. Better … health increases productivity and amplifies the return on education. The health accelerator allows workers to finance …
Persistent link: https://www.econbiz.de/10009723605