by the fetal origins hypothesis. We argue that while the conventional health capital model is irreconcilable with fetal … origins of late-in-life health outcomes, the more recent health deficit model can generate shock amplification consistent with … the hypothesis. In order to discuss human health over the life cycle from conception to death, we develop a theory of …

Near the end of life, health declines, mortality risk increases and curative is replaced by uninsured long-term care … closing down the shop justification where agents' decisions affect their health and the timing of death. Despite preferring to … live, individuals optimally deplete their health and wealth towards levels associated with high death risk and indifference …

In this paper we construct life-cycle profiles of U.S. health care spending using data from the Medical Expenditure … Panel Survey (MEPS). We separate pure age effects on health expenditure from time effects (i.e. productivity effects … trend. Time and cohort effects introduce a significant estimation bias into predictions of health expenditures per age group …