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A Closed-form Solution for the Health Capital Model

Holger Strulik ()

JODE - Journal of Demographic Economics, 2015, vol. 81, issue 3, 301-316

Abstract: This paper provides a closed-form solution for the health capital model of health demand. The results are exploited in order to prove analytically the comparative dynamics of the model. Results are derived for the so-called pure investment model, the pure consumption model and a combination of both types of models. Given the plausible assumptions that (i) health declines with age and that (ii) the health capital stock at death is lower than the health capital stock needed for eternal life, it is shown that the optimal solution implies eternal life.

Keywords: Longevity; Aging; Health; Health care demand (search for similar items in EconPapers)
JEL-codes: D10 D90 I20 (search for similar items in EconPapers)
Date: 2015-09-01
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http://dx.doi.org/10.1017/dem.2015.4 (application/pdf)

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Working Paper: A closed-form solution for the health capital model (2014) Downloads
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