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Life expectancy and endogenous growth

  • de la Croix, David
  • Licandro, Omar

We consider an overlapping generations model with uncertain lifetime and endogenous growth. Individuals have to choose the length of time devoted to schooling before starting to work. We show that it depends positively on life expectancy but that the positive effect of a longer life on growth could be offset by a decrease in the participation rate. Dynamics are characterized by a delay differential equation and human capital converges with oscillations to a balanced growth path.

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File URL: http://www.sciencedirect.com/science/article/B6V84-3YYT73P-M/2/0a4a6d59c13d16fcca76dac4991f1dd7
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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 65 (1999)
Issue (Month): 2 (November)
Pages: 255-263

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Handle: RePEc:eee:ecolet:v:65:y:1999:i:2:p:255-263
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  1. Boucekkine, R. & Germain, M. & Licandro, O., . "Replacement echoes in the vintage capital growth model," CORE Discussion Papers RP -1275, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Boucekkine, Raouf, et al, 1998. " Creative Destruction, Investment Volatility, and the Average Age of Capital," Journal of Economic Growth, Springer, vol. 3(4), pages 361-84, December.
  3. Fogel, Robert W., 1993. "Economic Growth, Population Theory, and Physiology: The Bearing of Long-Term Processes on the Making of Economic Policy," Nobel Prize in Economics documents 1993-1, Nobel Prize Committee.
  4. Benhabib, Jess & Rustichini, Aldo, 1990. "Vintage Capital, Investment And Growth," Working Papers 90-22, C.V. Starr Center for Applied Economics, New York University.
  5. Raouf Boucekkine & Fernando del Río & Omar Licandro, . "Replacement investment, endogenous fluctuations and the dynamics of job creation and job destruction," Working Papers 97-13, FEDEA.
  6. Saint-Paul, G., 1991. "Fiscal Policy In An Endogenous Growth Model," DELTA Working Papers 91-04, DELTA (Ecole normale supérieure).
  7. Azariadis, Costas & Drazen, Allan, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, MIT Press, vol. 105(2), pages 501-26, May.
  8. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  9. Ehrlich, Isaac & Lui, Francis T, 1991. "Intergenerational Trade, Longevity, and Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 99(5), pages 1029-59, October.
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