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Endogenous lifetime and economic growth revisited

Helle Bunzel and Xue Qiao ()

Economics Bulletin, 2005, vol. 15, issue 8, 1-8

Abstract: Chakraborty [Journal of Economic Theory, 2004] introduces endogenous mortality in a two period overlapping generations model by postulating that the probability of surviving from the first period to the second depends on tax-funded public health. His central result on the existence of multiple steady states (including development traps) summarized in Proposition 1 is incorrect. This paper presents the correct proposition and its proof, and in the process, uncovers several new, interesting results. Contrary to Chakraborty's analysis, high mortality yet high capital nations may not be able to escape the poverty trap. Interestingly, TFP growth can help economies escape the vicious cycle of poverty.

JEL-codes: O1 (search for similar items in EconPapers)
Date: 2005-02-07
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Working Paper: Endogenous Lifetime and Economic Growth Revisited (2004) Downloads
Working Paper: Endogenous Lifetime and Economic Growth Revisited (2004) Downloads
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