Life Expectancy and Income Convergence in the World : A Dynamic General Equilibrium Analysis / Kenichi Ueda.

Format:

Book

Government document

Author/Creator:

Ueda, Kenichi.

Series:

IMF Working Papers; Working Paper ; No. 2008/158

IMF working paper ; WP/08/158

IMF Working Papers

Language:

English

Subjects (All):

Life expectancy--Econometric models.

Life expectancy.

Income--Econometric models.

Income.

Cost and standard of living--Econometric models.

Cost and standard of living.

Convergence (Economics)--Econometric models.

Convergence (Economics).

Physical Description:

1 online resource (36 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2008.

Language Note:

English

Summary:

There is world-wide convergence in life expectancy, despite little convergence in GDP per capita. If one values longer life much more than material happiness, the world living standards may this have already converged substantially. This paper introduces the concept of the dynastic general equilibrium value of life to measure welfare gains from the increase in life expectancy. A calibration study finds sizable welfare gains, but these gains hardly mitigate the large inequality among countries. A conventional GDP-based measure remains a good approximation for (non) convergence in world living standards, even when adjusted for changes in life expectancy.

Contents:

Contents; I. Introduction; II. Model and Quantitative Results; A. Technology and Preference; B. Representative Agent; C. Neutrality of Longevity under Neoclassical Assumptions; D. Positive Value of Life with Costly Human Capital Transfer; III. Quantitative Assessment; A. Computable Form; B. Benchmark Parameter Values; C. Dynastic General Equilibrium Value of Life; D. Sensitivity Analysis; E. Income Convergence; IV. Case and Imperfect Altruism; V. Concluding Remarks; Reference; Figures; 1. Evolution of Life Expectancy; Tables; 1. Parameter Values; 2. Benchmark Quantitative Assessment

3. Sensitivity Analysis 4. Convergence of Income and Full Income; Appendices; I. Solutions; A. Optimal H/K Ratio; B. Euler Equation; II. Imperfect Altruism Case; A. Proof of Proposition 2; B. Proof of Proposition 3

Notes:

Description based upon print version of record.

Description based on online resource; title from PDF front page (ebrary, viewed February 26, 2014).

ISBN:

9786612841095

9781462300303

1462300308

9781452753119

1452753113

9781282841093

1282841092

9781451870169

1451870167

OCLC:

762700108