Population aging , health care , and growth: a comment on the effects of capital accumulation
| Main Authors: | Aisa Rosa, Pueyo Fernando |
|---|---|
| Format: | Journal Book |
| Bahasa: | eng |
| Terbitan: |
Facultad de Economia y Empresa, Universidad de Zaragoza
, 2012
|
| Subjects: | |
| Online Access: |
http://opac.unila.ac.id/ucs/index.php?p=show_detail&id=43214 |
Daftar Isi:
- In a recent paper, Hashimoto and Tabata (J Popul Econ 23:571 â 593, 2010) present a theoretical model in which the increase in the rate of dependence due to aging of the population leads to a reallocation of laborfrom non-health to health production and, as a consequence, to a decline ineconomic growth. We argue that these results rely heavily on assumptions ofa âsmall economyâ and perfect capital mobility, which tie down the amount ofcapital. In this paper, we proceed by analyzing the case of an economy in whichthe availability of capital is endogenously determined by domestic savings. Wefind that the new âcapital accumulation effectâ is opposite to the previousâdependency rate effect,â leaving the effect on economic growth ambiguous.In particular, if the former prevailed, population aging would foster economicgrowth, a result that finds support in recent empirical work.
- 17 Halaman