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A Theory of Medical Effectiveness, Differential Mortality, Income Inequality and Growth for Pre-Industrial England

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  • DAVID CROIX
  • ALESSANDRO SOMMACAL

Abstract

The interactions between mortality reductions and income growth are studied, with a special attention at their relationship prior to the Industrial Revolution, when income per head was stagnant. The choice of individual medical spending is modelled, giving a rationale for individual health expenditures even when medicine is not effective in postponing death. The rise of effective medicine is then explained by a learning process function of expenditure on health. The rise in effective medicine is linked to the economic growth of the eighteenth century through life expectancy increases which foster capital accumulation. The rise of effective medicine has also had an effect on the relationship between growth and inequality and on the intergenerational persistence of differences in income. These channels are operative through differential mortality induced by medical effectiveness that turns out to determine a differential in the propensity to save among income groups.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Mathematical Population Studies.

Volume (Year): 16 (2009)
Issue (Month): 1 ()
Pages: 2-35

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Handle: RePEc:taf:mpopst:v:16:y:2009:i:1:p:2-35

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Keywords: differential mortality; health expenditure; life expectancy; propensity to save;

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References

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  1. Shankha Chakraborty, 2002. "Endogenous Lifetime and Economic Growth," University of Oregon Economics Department Working Papers, University of Oregon Economics Department 2002-03, University of Oregon Economics Department, revised 26 Jan 2002.
  2. Amparo Castello-Climent & Rafael Domenech, 2006. "Human Capital Inequality, Life Expectancy and Economic Growth," Working Papers, International Economics Institute, University of Valencia 0604, International Economics Institute, University of Valencia.
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  4. Oded Galor & Omer Moav, 2006. "Natural Selection and the Evolution of Life Expectancy," DEGIT Conference Papers, DEGIT, Dynamics, Economic Growth, and International Trade c011_062, DEGIT, Dynamics, Economic Growth, and International Trade.
  5. Oded Galor & Omer Moav, 2004. "From Physical to Human Capital Accumulation: Inequality and the Process of Development," GE, Growth, Math methods, EconWPA 0410005, EconWPA.
  6. BOUCEKKINE, Raouf & DE LA CROIX, David & LICANDRO, Omar, . "Early mortality declines at the dawn of modern growth," CORE Discussion Papers RP, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) -1681, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  7. Mausumi Das & Shankha Chakraborty, 2010. "Mortality, Human Capital and Persistent Inequality," Working Papers id:2365, eSocialSciences.
  8. Nicolini, Esteban A., 2004. "Mortality, interest rates, investment, and agricultural production in 18th century England," Explorations in Economic History, Elsevier, Elsevier, vol. 41(2), pages 130-155, April.
  9. David N. Weil & Oded Galor, 2000. "Population, Technology, and Growth: From Malthusian Stagnation to the Demographic Transition and Beyond," American Economic Review, American Economic Association, American Economic Association, vol. 90(4), pages 806-828, September.
  10. de la Croix, David & Licandro, Omar, 1997. "Life expectancy and endogenous growth," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales), Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) 1997029, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  11. Matteo Cervellati & Uwe Sunde, 2005. "Human Capital Formation, Life Expectancy, and the Process of Development," American Economic Review, American Economic Association, American Economic Association, vol. 95(5), pages 1653-1672, December.
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Citations

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Cited by:
  1. Omar Licandro & David de la Croix, 2008. "The Child is Father of the Man: Implications for the Demographic Transition," 2008 Meeting Papers, Society for Economic Dynamics 186, Society for Economic Dynamics.
  2. repec:hal:wpaper:halshs-00676492 is not listed on IDEAS
  3. Pierre Pestieau & Gregory Ponthiere, 2012. "The Public Economics of Increasing Longevity," Hacienda Pública Española, IEF, IEF, vol. 200(1), pages 41-74, March.
  4. DE LA CROIX, David, . "Adult longevity and economic take-off from Malthus to Ben-Porath," CORE Discussion Papers RP, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) -2108, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. Fabio Mariani & Agustin Pérez-Barahona & Natacha Raffin, 2008. "Life expectancy and the environment," Documents de travail du Centre d'Economie de la Sorbonne, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne v08048, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  6. Thomas Seegmuller & Stefano Bosi, 2010. "Mortality Differential, Labor Taxation And Growth: What Do We Learn From The Barro-Becker Model?," Working Papers, HAL halshs-00472732, HAL.

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