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A trade union whose purpose is to raise wages above the competitive level may foster economic growth if it succeeds in shifting income away from the owners of capital to the workers and if the workers' marginal propensity to save exceeds the one of capitalists. We make this point in an...
Persistent link: https://www.econbiz.de/10013320826
This paper compares public health care with private health insurance in an overlapping generations endogenous growth model. It is shown that economic growth is higher when there is a private health insurance.
Persistent link: https://www.econbiz.de/10010263394
This paper focuses on the effect that population ageing has on the production structure of the economy and consequently on economic growth. We consider an economy that consists of a service sector and a commodity sector. Productivity growth only occurs in the latter sector and is assumed to...
Persistent link: https://www.econbiz.de/10012760875
Persistent link: https://www.econbiz.de/10011670798
Europe will be challenged by demographic changes over the next few decades, even under favourable assumptions about fertility and migration, but the economic effects are not yet fully understood. This paper studies the effects of population ageing on economic growth, capital deepening and...
Persistent link: https://www.econbiz.de/10013417455
We analyze the optimal life-cycle education decision of a single atomistic individual and show that the standard result of part-time education and part-time work throughout the life-cycle holds only under very special and unrealistic assumptions. Once these assumptions are relaxed, different...
Persistent link: https://www.econbiz.de/10012156094
Technological change causes three consequences: it guarantees economic growth, it requires employees to acquire more skills and human capital, and it increases inequality if employees are not capable adapting to new technologies. The second consequence makes it almost necessary for employees to...
Persistent link: https://www.econbiz.de/10011849808
Worldwide, dependency ratios are forecast to increase dramatically in the next 50 years. A great deal of attention has been devoted to understanding the changes in fiscal policies that "must" take place to accommodate these changes. In contrast, less effort has been concentrated on studying the...
Persistent link: https://www.econbiz.de/10013127202
This paper offers an integrated view of the relationships between health spending, medical innovation, health status, growth and welfare. Health spending triggers technological progress, which is a potential source of better outcomes in terms of longevity and quality of life, a direct source of...
Persistent link: https://www.econbiz.de/10014047534
Inevitable population aging and slower population growth will affect the economies of all nations in ways influenced by … private transfers rather than assets, and when economies are open, in which case aging will lead to increased flows of capital … and labor. Rising human capital investment per child accompanies the falling fertility that drives population aging, and …
Persistent link: https://www.econbiz.de/10014023480