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Endogenous Life Expectancy in a Simple Model of Growth

  • K Blackburn
  • H Issa
Registered author(s):

    In an overlapping generations economy reproductive agents mature safely through two periods of life and face an endogenous probability of surviving for a third period. Given this probability, which depends on aggregate outcomes, each agent maximises her expected lifetime utility by choosing consumption and savings. The dynamic general equilibrium of the economy is characterised by multiple development regimes associated with different levels of economic activity and different rates of life expectancy. Transition between these regimes may or may not occur depending on parameter values and initial conditions.

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    File URL: http://www.socialsciences.manchester.ac.uk/medialibrary/cgbcr/discussionpapers/dpcgbcr13.pdf
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    Paper provided by Economics, The Univeristy of Manchester in its series Centre for Growth and Business Cycle Research Discussion Paper Series with number 13.

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    Length: 26 pages
    Date of creation: 2002
    Date of revision:
    Handle: RePEc:man:cgbcrp:13
    Contact details of provider: Postal: Manchester M13 9PL
    Phone: (0)161 275 4868
    Fax: (0)161 275 4812
    Web page: http://www.socialsciences.manchester.ac.uk/subjects/economics/our-research/centre-for-growth-and-business-cycle-research/
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