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Abstract (English)
We propose an overlapping generations framework in which life expectancyis determined endogenously by governmental health investments. As a nov-elty, we are able to examine the feedback effects between life expectancy andR&D-driven economic growth for the transitional dynamics. We find that i)higher survival induces economic growth through higher savings and higherlabor force participation; ii) longevity-induced reductions in fertility hampereconomic development; iii) the positive life expectancy effects of larger savingsand higher labor force participation outweigh the negative effect of a reductionin fertility, and iv) there exists a growth-maximizing size of the health caresector that might lie beyond what is observed in most countries. Altogether,the results support a rather optimistic view on the relationship between lifeexpectancy and economic growth and contribute to the debate surroundingrising health shares and economic development.
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Hohenheim discussion papers in business, economics and social sciences; 2021,01
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Faculty of Business, Economics and Social Sciences
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Institute of Economics
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English
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330 Economics
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BibTeX
@techreport{Tscheuschner2021,
url = {https://hohpublica.uni-hohenheim.de/handle/123456789/6578},
author = {Tscheuschner, Paul},
title = {Endogenous life expectancy and R&D-based economic growth},
year = {2021},
school = {Universität Hohenheim},
series = {Hohenheim discussion papers in business, economics and social sciences},
}