Life expectancy and endogenous growth
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.
|Date of creation:||01 Nov 1997|
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"Replacement echoes in the vintage capital growth model,"
CORE Discussion Papers RP
1275, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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