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From 1850 to 2000, in Western European countries life expectancy rose from 30–40 to 80 years and the average number of children per woman fell from 4 to 5 children to slightly more than one. To gauge the economic consequences of these demographic trends, we implement an overlapping generations...
Persistent link: https://www.econbiz.de/10011865181
In a classical article, Granger (1966) argued that the levels of most economic time series have spectra that exhibit a smooth declining shape with considerable power at very low frequencies. He termed it the typical spectral shape of an economic variable. Granger's assertion has not been...
Persistent link: https://www.econbiz.de/10014090849
Proposed alternatives to GDP as a measure of social welfare or human progress are briefly evaluated. Four main categories are considered, namely ISEW and GPI based on corrections of GDP, sustainable or green(ed) GDP, genuine savings/investments and composite indexes. All these alternatives turn...
Persistent link: https://www.econbiz.de/10010430649
Persistent link: https://www.econbiz.de/10011628604
Are natural resources a blessing or a curse? Bravo-Ortega and De Gregorio present a model in which natural resources have a positive effect on the level of income and a negative effect on its growth rate. The positive and permanent effect on income implies a welfare gain. There is a growth...
Persistent link: https://www.econbiz.de/10014067584
At present, academic actuarial research involving the mortality modeling of multiple populations mainly focuses on … factor-based approaches. This comes with little attention to interpretable models of mortality that take patterns across … mortality modeling framework of Li and Lee (2005) to include spatial patterns. Specifically, in this paper, we study the …
Persistent link: https://www.econbiz.de/10012846461
Despite an increasing recognition of the importance of health for economic growth, there is still a lack of understanding of the role of medical innovation in this process. Specifically, what are the causal effects of medical innovation on economic growth and which non-linearities matter in this...
Persistent link: https://www.econbiz.de/10014346871
This paper develops the theoretical foundations and the testable implications of the various mechanisms that have been proposed as possible triggers for the demographic transition. Moreover, it examines the empirical validity of each of the theories and their significance for the understanding...
Persistent link: https://www.econbiz.de/10013110845
. We provide evidence supporting these predictions using data on exogenous mortality reductions in the context of the …
Persistent link: https://www.econbiz.de/10013159658
. We provide evidence supporting these predictions using data on exogenous mortality reductions in the context of the …
Persistent link: https://www.econbiz.de/10003837588