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Growth and enduring epidemic diseases

This paper analyzes the interplay of human capital formation and economic growth when there is premature adult mortality. Failing adequate insurance arrangements, a long wave of such mortality can so undermine human capital formation as to induce an economic collapse. In nuclear family structures, random matching of partners is superior to assortative mating only if the shock is not too big and initial levels of human capital are not too low. Full pooling of mortality risks with equal treatment of all children in extended families may fend off a general collapse, depending on the initial conditions and the size and duration of the shock. To avoid undesirable effects on expectations, awareness campaigns should be complemented by policies that credibly promise to reduce future mortality. If mortality depends on the general level of human capital, indeterminacy can arise in the form of more than one rational expectations path.

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Article provided by Elsevier in its journal Journal of Economic Dynamics and Control.

Volume (Year): 37 (2013)
Issue (Month): 10 ()
Pages: 2083-2103

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Handle: RePEc:eee:dyncon:v:37:y:2013:i:10:p:2083-2103
Contact details of provider: Web page: http://www.elsevier.com/locate/jedc

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  8. Alwyn Young, 2005. "The Gift of the Dying: The Tragedy of Aids and the Welfare of Future African Generations," The Quarterly Journal of Economics, MIT Press, vol. 120(2), pages 423-466, May.
  9. David E. Bloom & David Canning & Jaypee Sevilla, 2001. "The Effect of Health on Economic Growth: Theory and Evidence," NBER Working Papers 8587, National Bureau of Economic Research, Inc.
  10. Yamano, Takashi & Jayne, Thomas S., 2004. "Working-Age Adult Mortality and Primary School Attendance in Rural Kenya," Food Security Collaborative Working Papers 55159, Michigan State University, Department of Agricultural, Food, and Resource Economics.
  11. Clive Bell & Shantayanan Devarajan & Hans Gersbach, 2003. "The long-run economic costs of AIDS : theory and an application to South Africa," Policy Research Working Paper Series 3152, The World Bank.
  12. Jeremy Magruder, 2011. "Marital Shopping and Epidemic AIDS," Demography, Springer, vol. 48(4), pages 1401-1428, November.
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  18. Corrigan, Paul & Glomm, Gerhard & Mendez, Fabio, 2005. "AIDS crisis and growth," Journal of Development Economics, Elsevier, vol. 77(1), pages 107-124, June.
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