We study the role of endogenous healthcare choices by households to extend their expected lifetimes on economic growth and welfare in a decentralized overlapping generations economy with the realistic feature that households' savings are held in annuities. We characterize healthcare spending in...

The temporal interdependence between health expenditure and economic growth has been the focus in a number of recent empirical studies. While some insights have been gained from these studies, the focus has been on national economies, either in developed or developing countries. This paper...