Endogenous lifetime, accidental bequests and economic growth
نویسندگان
چکیده
منابع مشابه
Endogenous lifetime and economic growth
Conventional wisdom attributes the severity of mortality in poorer countries to widespread poverty and inadequate living conditions. This paper considers the possibility that persistent poverty may arise, in turn, from a high incidence of mortality. Endogenous mortality risk is introduced in a two-period overlapping generations model: probability of survival from the ̄rst period to the next dep...
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We develop a perpetual youth model to investigate how longevity affects economic growth and welfare. Life expectancy is determined by individuals’ investments in healthcare. We find that improvements in the healthcare technology always increase the steady state growth rate. Although the effect is small, even for large increases in longevity, welfare gains may be substantial depending on the typ...
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in this paper, we develop a ramsey-type endogenous growth model in which government spending on property rights protection is a major determinant of economic growth. this model includes equations for welfare, private and public sectors production. we introduce the legal efficiency into private production function, and x-inefficiency parameter into public production function. also, we consider t...
متن کاملIntended and Accidental Bequests in a Life-cycle Economy
This paper studies the consequences of accidental and intended bequests in stochastic life-cycle models with uninsured idiosyncratic risk. Four main findings emerge. (i) Accidental bequests are nearly as large as total bequests in U.S. data. As a result, life-cycle models leave little room for intended bequests. (ii) Accidental or altruistic bequests can account for key features of bequest and ...
متن کاملDiscussion of Michael Hurd : ” Are Bequests Accidental or Desired ? ” ∗ Andrew
† I thank John Ameriks for helpful discussion, for providing the data summarized in Table 1, and for helpful comments on a previous draft, and I thank Olivia Mitchell for helpful discussion.
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ژورنال
عنوان ژورنال: Decisions in Economics and Finance
سال: 2012
ISSN: 1593-8883,1129-6569
DOI: 10.1007/s10203-012-0138-2