This paper addresses social accounting and welfare measurement in an economy where human capital is an important factor in the economic system. Human capital accumulation depends on the time consumers spend in education. However, human capital is also a separate argument in the production...

We estimate the value of a 'blip', i.e. an immediate small reduction, in the hazard rate for a random sample of Swedes. Since the risk reduction is age-independent (2 'extra saved lives' out of 10,000 during the next year), we can examine how the value of a statistical life varies with age. We...