Life expectancy and endogenous growth
AbstractWe consider an overlapping generations model with uncertain lifetime and endogenous growth. Individuals have to choose the length of time devoted to schooling before starting to work. We show that it depends positively on life expectancy but that the positive effect of a longer life on growth could be offset by a decrease in the participation rate. Dynamics are characterized by a delay differential equation and human capital converges with oscillations to a balanced growth path.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 65 (1999)
Issue (Month): 2 (November)
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Web page: http://www.elsevier.com/locate/ecolet
Other versions of this item:
- de la Croix, David & Licandro, Omar, 1997. "Life expectancy and endogenous growth," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1997029, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- David de la Croix & Omar Licandro, . "Life expectancy and endogenous growth," Working Papers 97-23, FEDEA.
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- J10 - Labor and Demographic Economics - - Demographic Economics - - - General
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