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“Provide, Provide”: The Economics of Aging

In: Health Economics and Policy Selected Writings by Victor Fuchs

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  • VICTOR R. FUCHS

Abstract

“May you live to a hundred and twenty.” This traditional Jewish blessing was inspired by the last chapter of the Torah, which describes the death of Moses at that age with “his eyes undimmed and his vigor unabated” (Deut. 34:7). Unlike Moses, many people experience a more troubled old age. In addition to the loss of family and friends and a diminution of status, nearly all older persons face two potentially serious economic problems: declining earning power and increased utilization of health care. The decline in earning power is attributable to physiological changes and to obsolescence of skills and knowledge, and is exacerbated by public and private policies that reduce the incentives of older persons to continue working and increase the cost to employers of employing older workers. Increased utilization of health care is undertaken to reduce or offset the effects of declining health…

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  • Victor R. Fuchs, 2018. "“Provide, Provide”: The Economics of Aging," World Scientific Book Chapters, in: Health Economics and Policy Selected Writings by Victor Fuchs, chapter 34, pages 425-443, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813232877_0034
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    1. McClellan, Mark & Skinner, Jonathan, 2006. "The incidence of Medicare," Journal of Public Economics, Elsevier, vol. 90(1-2), pages 257-276, January.
    2. Victor R. Fuchs, 2018. "Economics, Values, and Health Care Reform," World Scientific Book Chapters, in: Health Economics and Policy Selected Writings by Victor Fuchs, chapter 39, pages 497-531, World Scientific Publishing Co. Pte. Ltd..
    3. Hurd, Michael D, 1990. "Research on the Elderly: Economic Status, Retirement, and Consumption and Saving," Journal of Economic Literature, American Economic Association, vol. 28(2), pages 565-637, June.
    4. Jagadeesh Gokhale & Laurence J. Kotlikoff & John Sabelhaus, 1996. "Understanding the Postwar Decline in U.S. Saving: A Cohort Analysis," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 27(1), pages 315-407.
    5. Dwyer, Debra Sabatini & Mitchell, Olivia S., 1999. "Health problems as determinants of retirement: Are self-rated measures endogenous?," Journal of Health Economics, Elsevier, vol. 18(2), pages 173-193, April.
    6. Joseph F. Quinn & Kevin Cahill & Richard V. Burkhauser & Robert Weathers, 1998. "The Microeconomics of the Retirement Decision in the United States," Boston College Working Papers in Economics 400, Boston College Department of Economics.
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    Cited by:

    1. Victor R. Fuchs, 2000. "Medicare Reform: The Larger Picture," Journal of Economic Perspectives, American Economic Association, vol. 14(2), pages 57-70, Spring.
    2. Chapin White, 2006. "The Slowdown in Medicare Spending Growth: Working Paper 2006-08," Working Papers 18017, Congressional Budget Office.
    3. Julie Lee & Mark McClellan & Jonathan Skinner, 1999. "The Distributional Effects of Medicare," NBER Chapters, in: Tax Policy and the Economy, Volume 13, pages 85-108, National Bureau of Economic Research, Inc.
    4. Victor R. Fuchs, 2018. "The Future of Health Economics," World Scientific Book Chapters, in: Health Economics and Policy Selected Writings by Victor Fuchs, chapter 5, pages 53-70, World Scientific Publishing Co. Pte. Ltd..
    5. Paolo Malighetti & Stefano Paleari & Renato Redondi, 2005. "Financing and Managing Health Expenditure: Evaluation of Aging and Capitation Criteria in the Italian Healthcare System," Working Papers 0504, Department of Management, Information and Production Engineering, University of Bergamo.
    6. Sanjay Mohanty & Rajesh Chauhan & Sumit Mazumdar & Akanksha Srivastava, 2014. "Out-of-pocket Expenditure on Health Care Among Elderly and Non-elderly Households in India," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 115(3), pages 1137-1157, February.
    7. Loïc Cadiou & Julien Genet & Jean-Louis Guérin, 2002. "Évolutions démographiques et marché du travail : des liens complexes parfois contradictoires," Économie et Statistique, Programme National Persée, vol. 355(1), pages 139-156.
    8. Stijepic, Denis & Wagner, Helmut, 2009. "Population-ageing, structural change and productivity growth," MPRA Paper 37005, University Library of Munich, Germany, revised 29 Feb 2012.

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    More about this item

    Keywords

    Health; Medical Care; Health Policy; Economics; Health Care Reform; Health Insurance;
    All these keywords.

    JEL classification:

    • I15 - Health, Education, and Welfare - - Health - - - Health and Economic Development

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