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Human Capital Inequality, Life Expectancy and Economic Growth

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Author Info
Climent, Amparo Castello (Universidad Jaume 1 & UCL)
Rafael Domenech

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Abstract

This paper provides a theoretical model in which inequality affects per capita income when individuals decide to accumulate human capital depending on their life expectancy. The model assumes that life expectancy depends to a large extent on the environment in which individuals grow up, in particular, on the human capital of their parents. After calibrating the life expectancy function according to the international evidence for cross-section data, our results show the existence of multiple steady states depending on the initial distribution of education. In particular, human capital may converge towards different stable steady states. In accordance with the evidence displayed by many developing countries, the low steady state is a poverty trap in which children are raised in poor families, have a low life expectancy and work as non-educated workers all their lives.

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Paper provided by Royal Economic Society in its series Royal Economic Society Annual Conference 2003 with number 46.

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Date of creation: 04 Jun 2003
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Handle: RePEc:ecj:ac2003:46

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Related research
Keywords: life expectancy; iinequality; human capital accumulation;

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Find related papers by JEL classification:
O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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  1. DE LA CROIX, David & SOMMACAL, Alessandro, 2006. "A theory of medicine effectiveness, differential mortality, income inequality and growth for pre-industrial England," CORE Discussion Papers 2006045, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE). [Downloadable!]
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