Gong, Liutang; Li, Hongyi; Wang, Dihai; Zou, Heng-fu - China Economics and Management Academy, Central … - 2011
This paper studies capital accumulation and consumption in the traditional Ramsey model under an exogenous growth framework. The model has three important features: (1) treating health as a simple function of consumption, which enable the study of health and growth in an aggregate macroeconomic...