The analysis in this paper focuses on the impact of health on the savings andconsumption decisions of the elderly. In principle, there are at least five alternativechannels through which health may affect consumption and savings. Ill health mayaffect both consumption capacities and needs while...

The standard human-capital model is based on the assumption that the observed wage of an individual is equal to the monetary value of the individual net human-capital productivity, the so-called net potential wage. We argue that this assumption is rejected by the ECHP data for Belgium, Denmark...

The standard human-capital model is based on the assumption that the observed wage of an individual is equal to the monetary value of the individual net human-capital productivity, the so-called net potential wage. We argue that this assumption is rejected by the ECHP data for Belgium, Denmark...