Growth and Welfare under Endogenous Lifetime
نویسندگان
چکیده
منابع مشابه
Growth and Welfare under Endogenous Lifetime ∗
We develop a perpetual youth model to investigate how longevity affects economic growth and welfare. Life expectancy is determined by individuals’ investments in healthcare. We find that improvements in the healthcare technology always increase the steady state growth rate. Although the effect is small, even for large increases in longevity, welfare gains may be substantial depending on the typ...
متن کاملEndogenous lifetime and economic growth
Conventional wisdom attributes the severity of mortality in poorer countries to widespread poverty and inadequate living conditions. This paper considers the possibility that persistent poverty may arise, in turn, from a high incidence of mortality. Endogenous mortality risk is introduced in a two-period overlapping generations model: probability of survival from the ̄rst period to the next dep...
متن کاملEndogenous Public Information and Welfare
This paper performs a welfare analysis of economies with private information when public information is endogenously generated and agents can condition on noisy public statistics in the rational expectations tradition. Equilibrium is not (restricted) efficient even when feasible allocations share similar properties to the market context (e.g., linear in information). The reason is that the mark...
متن کاملCrack Growth and Lifetime of Concrete under Long Time Loading
Edge-notched eccentrically compressed fracture specimens made of aggregate of reduced size are loaded in standard creep test frames. Measurements of the time rate of crack mouth opening in notched concrete specimens subjected to constant load of almost one month duration are reported and analyzed. To reveal the size effect, geometrically similar specimens of four sizes in the ratio I :2:4:8 are...
متن کاملEndogenous Search , Price Dispersion , and Welfare
This paper studies the welfare cost of inflation in a frictional monetary economy with endogenous consumer search. Equilibrium entails price dispersion, where sellers compete for buyers by posting prices. We identify three channels through which inflation affects welfare. The real balance channel is the source of welfare loss. Its interaction with the price posting channel generates a welfare c...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.1636855