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Ongoing demographic change will lead to a relative scarcity of raw labor to the effect that output growth will be …
Persistent link: https://www.econbiz.de/10011537898
We study the role of health care within a continuous time economy of overlapping generations subject to endogenous mortality. The economy consists of two sectors: final goods production and a health care sector, selling medical services to individuals. Individuals demand health care with a view...
Persistent link: https://www.econbiz.de/10011437147
We study the role of health care within a continuous time economy of overlapping generations subject to endogenous mortality. The economy consists of two sectors: final goods production and a health care sector, selling medical services to individuals. Individuals demand health care with a view...
Persistent link: https://www.econbiz.de/10011454352
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-capita growth. The OLG model captures direct effects, working through adjustments in the savings rate, labor supply, and capital … politico-economic equilibrium. Growth is driven by capital accumulation and productivity increases fueled by public investment … to demographic ageing and per-capita growth to accelerate. If the retirement age were held constant, the growth rate in …
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This paper develops a three-period overlapping-generations model where middle-aged agents care about not only their own lifetime utility but also their old parents’ and children’s well-being. The double altruistic agents choose amounts of intergenerational transfers to their old parents and...
Persistent link: https://www.econbiz.de/10011757923