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Longevity and Education: A Macroeconomic Perspective

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Author Info
Francesco Ricci
Marios Zachariadis

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Abstract

This paper investigates the determinants of longevity at a macroeconomic level, emphasizing the important role played by education. To analyze the determinants of longevity, we build a model where households intentionally invest in health and education, and where education exerts external effects on longevity. Performing an empirical analysis using data across 71 countries, we find that society’s tertiary education attainment rate is important for longevity, in addition to any role that basic education plays for life expectancy at the individual level. This finding uncovers a key externality of education, consistent with the theoretical hypothesis advanced in our macroeconomic model.

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File URL: http://www.econ.ucy.ac.cy/research/working_papers/2008/01-08.pdf
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Paper provided by University of Cyprus Department of Economics in its series University of Cyprus Working Papers in Economics with number 1-2008.

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Length: 32 pages
Date of creation: Feb 2008
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Handle: RePEc:ucy:cypeua:1-2008

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Web page: http://www.econ.ucy.ac.cy

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Keywords: Education life expectancy health externalities absorptive capacity welfare

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