Health investment, saving, and public policy
Jie Zhang (),
Junsen Zhang and
Canadian Journal of Economics, 2006, vol. 39, issue 1, 68-93
This paper develops an overlapping-generations model in which agents invest in health to prolong life in both working and retirement periods. It explores how unfunded social security with or without health subsidies affects life expectancy, economic growth, and welfare. In particular, by extending life at a possible cost of capital accumulation, health subsidies and a pay-as-you-go pension can improve welfare, especially in the short run.
JEL-codes: I12 J14 J18 O11 (search for similar items in EconPapers)
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