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Does Life Expectancy Affect Per Capita Income Growth?

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  • Rodrigo Cerda

    () (Instituto de Economía. Pontificia Universidad Católica de Chile.)

Abstract

The paper models the behavior of an economy that accumulates capital stock and increases the life expectancy of their inhabitants at the same time. It is shown that as a country develops, it presents initially smaller growth rates on consumption and physical capital but larger expansions on life expectancy. Thus poor countries may initially catch-up on life expectancy rather than per capita income, producing divergence on income between poor and rich countries. It is also shown that economies with larger life expectancy should have larger income growth rates.

Suggested Citation

  • Rodrigo Cerda, 2002. "Does Life Expectancy Affect Per Capita Income Growth?," Documentos de Trabajo 206, Instituto de Economia. Pontificia Universidad Católica de Chile..
  • Handle: RePEc:ioe:doctra:206
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    File URL: http://www.economia.uc.cl/docs/dt_206.pdf
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    References listed on IDEAS

    as
    1. Gary S. Becker & Kevin M. Murphy & Robert Tamura, 1994. "Human Capital, Fertility, and Economic Growth," NBER Chapters,in: Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education (3rd Edition), pages 323-350 National Bureau of Economic Research, Inc.
    2. Laurence J. Kotlikoff, 1998. "Simulating the Privatization of Social Security in General Equilibrium," NBER Chapters,in: Privatizing Social Security, pages 265-311 National Bureau of Economic Research, Inc.
    3. Ehrlich, Isaac & Zhong, Jian-Guo, 1998. "Social Security and the Real Economy: An Inquiry into Some Neglected Issues," American Economic Review, American Economic Association, vol. 88(2), pages 151-157, May.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • I10 - Health, Education, and Welfare - - Health - - - General
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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