This paper studies the impact of the first effective medical treatment for an infectious disease -diphtheria antitoxin- on the historical health transition in the United States. Using an instrumental variable for local antitoxin adoption rates and information from approximately 1.6 million death...

This study investigates the determinants of the fertility transition in the US from 1850 to the end of the 20th century. We find a negative relationship between years of schooling and fertility, which suggests that the rise in schooling accounts for at least 60 percent of the US fertility...

This research documents that the growth rate of life expectancy over the 20th century decreased the growth rate of per capita GDP and the growth rate of population. Exploiting exogenous variation in life expectancy from mid-20th century medical advances (e.g., antibiotics), the analysis...

Schooling. This study estimates the respective contributions of schooling and income in determining the fertility transition within the US states between 1840 and 1980. While evidence suggests that both relationships are negative and statistically signi?cant, the most robust determinant of the...

The long run welfare implications of the legal retirement age are studied in a perfect foresight overlapping-generations model where agents live for two periods. Agents’ lifetime is divided between working life and retirement by a legal retirement age controlled by the government whereas...

This study documents that the growth in life expectancy over the 20th century decreased per capita GDP growth and increased population growth. By exploiting significant advances in medical technologies, starting to diffuse in the 1940s, the analysis establishes that countries with higher levels...

This paper provides a theoretical foundation for a U-shaped evolution in the retirement age. By assuming no markets for annuities markets in a simple two period overlapping generations model with lifetime uncertainty, we show that increasing life expectancy can explain the observed evolution in...