Mortality Decline and Aggregate Wealth Accumulation
AbstractThe paper discusses the impact of longevity extension on aggregate wealth accumulation, accounting for changes in individual behaviors as well as changes in population age structure. It departs from the standard literature by adopting a formulation of individual preferences that accounts for temporal risk aversion. Human impatience is then closely related to mortality rates and aggregate wealth accumulation appears to be much more sensitive to demographic factors than with the traditional approach. Illustrations are provided using historical mortality data from different countries.
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Bibliographic InfoPaper provided by Toulouse School of Economics (TSE) in its series TSE Working Papers with number 09-050.
Date of creation: 16 Jun 2009
Date of revision:
longevity; life cycle savings; wealth accumulation;
Find related papers by JEL classification:
- D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
- E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
- J1 - Labor and Demographic Economics - - Demographic Economics
This paper has been announced in the following NEP Reports:
- NEP-AGE-2010-05-22 (Economics of Ageing)
- NEP-ALL-2010-05-22 (All new papers)
- NEP-DGE-2010-05-22 (Dynamic General Equilibrium)
- NEP-HEA-2010-05-22 (Health Economics)
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