A closer look at the relationship between life expectancy and economic growth
We first provide a nonparametric inference of the relationship between life expectancy and economic growth on an historical data for 18 countries over the period 1820-2005. The obtained shape shows up convexity for low enough values of life expectancy and concavity for large enough values. We then study this relationship on a benchmark model combining "per- petual youth" and learning-by-investing. In such a benchmark, the generated relationship between life expectancy and economic growth is shown to be strictly increasing and concave. We finally examine a model departing from "perpetual youth" by assuming age-dependent survival probabilities. We show that life-cycle behavior combined with age-dependent sur- vival laws can reproduce our empirical finding.
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| Handle: | RePEc:cor:louvrp:2115 |
| Note: | In : International Journal of Economic Theory, 5, 201-244, 2009 |
| Contact details of provider: | Postal: Voie du Roman Pays 34, 1348 Louvain-la-Neuve (Belgium) Phone: 32(10)474321 Fax: +32 10474304 Web page: http://www.uclouvain.be/core Email: More information through EDIRC
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