A model of longevity, human capital and growth

Oscar Avila-Montealegre

No 8851, Archivos de Economía from Departamento Nacional de Planeación

Abstract: Long run economic growth and its transitional dynamics are determined in ageneral equilibrium model of endogenous longevity, human capital and growth.Agents in overlapping generations survive safely for the first two periods of life andface an endogenous probability of surviving for a third period. Given thisprobability, each agent maximizes her expected lifetime utility choosingconsumption, and the quantity of resources destined to her child´s education andhealth. Human capital accumulation depends on education and health expendituresand on parent´s human capital. The model produces two kinds of equilibriums, onewith high life expectancy, human capital and GDP, and the other with low high lifeexpectancy, human capital and GDP. These predictions accord with the empiricalevidence on demographic transitions and development.

Keywords: Longevity; human capital; demographic transition; economicgrowth. (search for similar items in EconPapers)
JEL-codes: J10 J14 O10 O15 (search for similar items in EconPapers)
Pages: 20
Date: 2010-11-03
New Economics Papers: this item is included in nep-dem, nep-dge, nep-evo, nep-fdg, nep-hea and nep-hrm
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://colaboracion.dnp.gov.co/CDT/Estudios%20Econmicos/369.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:col:000118:008851

Access Statistics for this paper

More papers in Archivos de Economía from Departamento Nacional de Planeación Contact information at EDIRC.
Bibliographic data for series maintained by Carlos Fernando Rincon Rojas ().