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of capital and labor, particularly unskilled labor. The good news for the developed world is that China and India will … unskilled workers reflects, in large part, simply the fact that China and India are gradually bringing each of their skill …
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We study the effects of a labor-intensive health care sector within an R&D-driven growth model with overlapping generations. Health care increases longevity and labor participation/productivity. We examine under which conditions expanding health care enhances growth and welfare. Even if the...
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