THE GOLDEN RULE OF LONGEVITY

被引：0
|
作者：
Gestsson, Marias H. [1 ,2 ]
Zoega, Gylfi [2 ,3 ]
机构：
[1] Aarhus Univ, Aarhus, Denmark
[2] Univ Iceland, Reykjavik, Iceland
[3] Univ London, London, England
来源：
MACROECONOMIC DYNAMICS | 2019年 / 23卷 / 01期
关键词：
Health Care Expenditures; Golden Rule; Productivity; HEALTH EXPENDITURE; CARE EXPENDITURE; LIFE; INCOME; AGE; DETERMINANTS; DEMAND; TRENDS; MODEL;
D O I：
10.1017/S1365100516001371
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
How much should society invest in medical care that extends the lives of the older generations? We derive a golden rule for the level of health care expenditures and find that the optimal level of life-extending health care expenditures should increase with rising productivity, increase with the retirement age, and also increase with the population growth rate if a higher growth rate lowers the ratio of retirees to working-age people sufficiently, while the effects of an improvement in medical technology are ambiguous. Moreover, we find that a market economy may be inefficient in terms of the provision of life-extending health care because an individual ignores the effect of his own longevity on the income of others.
引用
收藏
页码：384 / 419
页数：36
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