We analyze the optimal life-cycle education decision of a single atomistic individual and show that the standard result of part-time education and part-time work throughout the life-cycle holds only under very special and unrealistic assumptions. Once these assumptions are relaxed, different...

We present a model of endogenous aging with public expenditure on health and pensions financed by an income tax. We show that government policies on health and pensions might lift an economy from a low to a high income steady state. In particular, the impact of an increase in the income tax is...

Interactions between knowledge and health are studied in a three-period overlapping generations model with health persistence. Agents face a non-zero probability of death in adulthood. In addition to working, adults allocate time to child rearing. Growth dynamics depend in important ways on the...

Despite the increasing rate of diffusion of effective therapies, the battle against HIV/AIDS in Sub-Saharan Africa (SSA) is far from being over. Three main challenges are that the epidemics might paralyse or reverse the fertility transition, the expansion of the resources needed to finance the...