Medical Innovations and Ageing: A Health Economics Perspective

Volker Grossmann

No 9387, CESifo Working Paper Series from CESifo

Abstract: This paper discusses the relationship between medical innovations and ageing from a health economics perspective and surveys empirical evidence on medical R&D incentives, R&D costs of pharmaceuticals, and the cost-effectiveness of health innovations. Particular focus is on the endogeneity of medical technological progress to expected market size and on the conceptualization of ageing as an accumulation of health deficits. The paper also discusses the role of medical progress for longevity and health inequality and presents a framework to assess the effect of increased longevity on the value of life.

Keywords: healthcare; health deficits; health innovations; medical technological progress; longevity (search for similar items in EconPapers)
JEL-codes: I10 O30 (search for similar items in EconPapers)
Date: 2021
New Economics Papers: this item is included in nep-age, nep-hea and nep-ino
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_9387

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