The future course of old-age mortality is of great importance to public sector expenditures in countries where old-age programs, such as Social Security and Medicare in the US, account for large fractions of the public budget. This paper argues that the competitive market prices of motality...

This paper analyzes how markets for old-age care respond to the aging of populations. We consider how the biological forces, which govern the stocks of frail and health persons in a population, interact with economic forces, which govern the demand for and supply of care. We argue that aging...