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A closer look at the relationship between life expectancy and economic growth

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Author Info

  • Théophile T. Azomahou
  • Raouf Boucekkine
  • Bity Diene

Abstract

We first provide a nonparametric inference of the relationship between life expectancy and economic growth on an historical data for 18 countries over the period 1820-2005. The obtained shape shows up convexity for low enough values of life expectancy and concavity for large enough values. We then study this relationship on a benchmark model combining perpetual youth" and learning-by-investing. In such a benchmark, the generated relationship between life expectancy and economic growth is shown to be strictly increasing and concave. We finally examine two models departing from perpetual youth" by assuming successively age-dependent earnings and age-dependent survival probabilities. With age-dependent earnings, the obtained relationship is hump-shaped while agedependent survival laws do reproduce the convex-concave shape detected in the prior empirical study.

(This abstract was borrowed from another version of this item.)

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Bibliographic Info

Article provided by The International Society for Economic Theory in its journal International Journal of Economic Theory.

Volume (Year): 5 (2009)
Issue (Month): 2 ()
Pages: 201-244

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Handle: RePEc:bla:ijethy:v:5:y:2009:i:2:p:201-244

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References

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Citations

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Cited by:
  1. Goenka, A. & Jafarey, S. & Pouliot, W., 2012. "Pollution, mortality and optimal environmental policy," Working Papers 12/07, Department of Economics, City University London.
  2. Luciano Fanti & Mimmo Iannelli & Piero Manfredi, 2013. "Neoclassical growth with endogenous age distribution. Poverty vs low-fertility traps as steady states of demographic transitions," Journal of Population Economics, Springer, vol. 26(4), pages 1457-1484, October.
  3. Grégory Ponthière, 2009. "Existence and stability of overconsumption equilibria," PSE Working Papers halshs-00575015, HAL.
  4. Kuhn, Michael & Prettner, Klaus, 2012. "Growth and welfare effects of health care in knowledge based economies," ECON WPS - Vienna University of Technology Working Papers in Economic Theory and Policy 03/2012, Vienna University of Technology, Institute for Mathematical Methods in Economics, Research Group Economics (ECON).
  5. GROWIEC, Jakub, 2007. "Human capital, aggregation, and growth," CORE Discussion Papers 2007056, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  6. Hippolyte d'Albis & Emmanuelle Augeraud-Véron, 2012. "Frequency of trade and the determinacy of equilibrium in economies of overlapping generations," Documents de travail du Centre d'Economie de la Sorbonne 12042, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  7. Hippolyte D'Albis & Emmanuelle Augeraud-Véron, 2011. "Continuous-Time Overlapping Generations Models," Post-Print hal-00424799, HAL.
  8. Jakub Growiec & Christian Groth, 2012. "On aggregating human capital across heterogeneous cohorts," National Bank of Poland Working Papers 134, National Bank of Poland, Economic Institute.

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