In this paper we show that it may be optimal for individuals to educate themselves more and decrease future labor supply (choose earlier retirement) when life expectancy increases. This result reconciles the …ndings of Hazan [Hazan, M., 2009. Longevity and Lifetime Labor Supply: Evidence and Implications. Econometrica 77, 1829–1863] with theory. Further, the paper contributes to a better unders...

The paper tries to relate inequality, occupational choice and long run wealth. Defining the unskilled as poor, skilled group as middle class and entrepreneurs as rich the paper focusesstarting from a huge middle class relative to the rich along with a higher fraction of borrowing entrepreneurs within the rich group, an economy converges with a very low wealth level. In other words, one needs to...

We study the endogenous relationship between health care, life expectancy and output in a modified neoclassical growth model. While health care competes resources away from goods production, it prolongs life expectancy which in turn leads to higher capital accumulation. We show that savings and health care are complements in equilibrium, with both rising with economic development. Our model is ...

This paper examines the macroeconomic and structural constraints to scaling up aid fl ows to developing countries to meet the Millennium Development Goals in 2015, including infrastructure, competitiveness and the real exchange rate, labour markets, fi scal constraints, governance, and aid volatility and fragmentation. The impact of these constraints on cost-effi cient sequencing and compositio...

Tlliam Jac^fon, a private foldier, twenty' two years old, was fuddenly feized, o11 the 2d of Sept. 1780, with a great numbnefs ?n his left fide, and immediately after perceived he had in a great meafure loft; the ufe of all his ?|imbs of that fide. He was carried to the hofp1' tal, where I found him the next morning labouring under a confiderable ftupor, and deprived of ftlmoft all voluntary po...

A number of nicotinamide adenine dinucleotide analogues have been prepared in which the purine, pyridine, and ribose moieties have been modified (2-12). These analogues have proven to be valuable in studies dealing with the site of binding of the pyridine coenzyme to dehydrogenases, in elucidating the mechanism of dehydrogenases and the configuration of the pyridme coenzymes, and as indicators ...

This paper investigates very long run pre-industrial economic development. New annual GDP per capita data for six European countries over the last seven hundred years paints a clearer picture of the history of European economic development. First, it confirms that sustained growth has been a recent phenomenon, but rejects the argument that there was no permanent growth in living standards befor...

This paper is motivated by the observation that individuals sometimes tend to use a contract just because others have done so before. To put it more technically, the cost of executing a transaction under an existing standard seems to be much lower than doing so under a new innovation. The economic consequences of contract standardization are analyzed within an ordinary overlapping generations m...

As a complement to the literature, this paper studies the effects of changes in demographic structures on China’s growth from 1957 to 2007. A general equilibrium overlapping generations model with endogenous fertility is employed in order to measure the contribution of demographic changes. The main findings are (1) the demographic change (a sharp decline in fertility) was the main engine of Chi...

This paper reviews evidence of the gender effects of globalization in developing economies. It then outlines a set of macroeconomic and trade policies to promote gender equity. The evidence suggests that while liberalization has expanded women’s access to employment, the long-term goal of transforming gender inequalities remains unmet and appears unattainable without state intervention in marke...