ENDOGENOUS HEALTH CARE, LIFE EXPECTANCY AND ECONOMIC GROWTH
作者： Michael C. M. Leung , Yong Wang
DOI: 10.1111/J.1468-0106.2009.00486.X
关键词:
摘要: We study the endogenous relationship between health care, life expectancy and output in a neoclassical growth model. Although care directly diverts resources away from goods production, it prolongs expectancy, which turn leads to higher savings and, hence, capital formation through private annuity market. show that are complements equilibrium, with both rising economic development. Our model is therefore consistent several observed stylized development patterns across countries. Moreover, longevity-enhancing channel, production technology found by simulation be welfare promoting.
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