The book series Contributions to Economic Analysis was established under the editorship of Jan Tinbergen in 1952. Its purpose ever since has been to stimulate the international exchange of scientific information and to reinforce international cooperation by publishing original research in...

To allow for an improved health progression for the elderly, we adjusted the health index for those aged 40–90 proportionally to their age minus 40 and the calendar year minus 2000 in such a way that a 90-year-old person in 2040 will have the same health as an 80 years old in the base...

The challenge of an ageing population is a major concern to policymakers and researchers all over the world. As evident in Figure 1 , the percentage of people aged 60 and above will increase substantially between 2000 and 2050 in all parts of the world. Europe has the highest proportion; only...