Life expectancy and endogenous growth
David de la Croix () and
Omar Licandro ()
No 1997029, Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)
We consider an overlapping generations model with uncertain lifetime and endogenous growth. Individuals have to choose the length of time devoted to schooling before starting to work. We show that it depends positively on life expectancy but that the positive effect of a longer life on growth could be offset by a decrease in the participation rate. Dynamics are characterized by a delay differential equation and human capital converges with oscillations to a balanced growth path.
Keywords: Endogenous growth; human capital; life expectancy; Lambert W function; delay differential equation (search for similar items in EconPapers)
JEL-codes: O41 J10 (search for similar items in EconPapers)
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Journal Article: Life expectancy and endogenous growth (1999)
Working Paper: Life expectancy and endogenous growth
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Persistent link: https://EconPapers.repec.org/RePEc:ctl:louvir:1997029
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