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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- Robert W. Fogel, 1994.
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- Boucekkine, Raouf & Germain, Marc & Licandro, Omar & Magnus, Alphonse, 1998.
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- Boucekkine, Raouf & Germain, Marc & Licandro, Omar, 1997. "Replacement Echoes in the Vintage Capital Growth Model," Journal of Economic Theory, Elsevier, vol. 74(2), pages 333-348, June.
- Boucekkine, R. & Germain, M. & Licandro, O., "undated". "Replacement echoes in the vintage capital growth model," CORE Discussion Papers RP 1275, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Licandro, Omar & Germain, Marc & Boucekkine, Raouf, 1996. "Replacement echoes in the vintage capital growth model," UC3M Working papers. Economics 4096, Universidad Carlos III de Madrid. Departamento de Economía.
- Costas Azariadis & Allan Drazen, 1990. "Threshold Externalities in Economic Development," The Quarterly Journal of Economics, Oxford University Press, vol. 105(2), pages 501-526.
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- Jess Benhabib & Aldo Rustichini, 1990. "Vintage Capital, Investment and Growth," Discussion Papers 886, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Benhabib, Jess & Rustichini, Aldo, 1990. "Vintage Capital, Investment And Growth," Working Papers 90-22, C.V. Starr Center for Applied Economics, New York University.
- Gilles Saint-Paul, 1992. "Fiscal Policy in an Endogenous Growth Model," The Quarterly Journal of Economics, Oxford University Press, vol. 107(4), pages 1243-1259.
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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