A model of longevity, human capital and growth
AbstractLong run economic growth and its transitional dynamics are determined in ageneral equilibrium model of endogenous longevity, human capital and growth.Agents in overlapping generations survive safely for the first two periods of life andface an endogenous probability of surviving for a third period. Given thisprobability, each agent maximizes her expected lifetime utility choosingconsumption, and the quantity of resources destined to her child´s education andhealth. Human capital accumulation depends on education and health expendituresand on parent´s human capital. The model produces two kinds of equilibriums, onewith high life expectancy, human capital and GDP, and the other with low high lifeexpectancy, human capital and GDP. These predictions accord with the empiricalevidence on demographic transitions and development.
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Bibliographic InfoPaper provided by DEPARTAMENTO NACIONAL DE PLANEACIÓN in its series ARCHIVOS DE ECONOMÍA with number 008851.
Date of creation: 03 Nov 2010
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Longevity; human capital; demographic transition; economicgrowth.;
Find related papers by JEL classification:
- J10 - Labor and Demographic Economics - - Demographic Economics - - - General
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
- O10 - Economic Development, Technological Change, and Growth - - Economic Development - - - General
- O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-08-09 (All new papers)
- NEP-DEM-2011-08-09 (Demographic Economics)
- NEP-DGE-2011-08-09 (Dynamic General Equilibrium)
- NEP-EVO-2011-08-09 (Evolutionary Economics)
- NEP-FDG-2011-08-09 (Financial Development & Growth)
- NEP-HEA-2011-08-09 (Health Economics)
- NEP-HRM-2011-08-09 (Human Capital & Human Resource Management)
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