TY - JOUR
T1 - Growth and welfare effects of health care in knowledge-based economies
AU - Kuhn, Michael
AU - Prettner, Klaus
PY - 2016
Y1 - 2016
N2 - We study the effects of labor intensive health care within a research and development (R&D) driven growth model with overlapping generations. Health care increases longevity, labor participation, and productivity, while it also diverts labor away from production and R&D. We examine under which conditions expanding health care enhances growth and welfare and establish mild conditions under which the provision of health care beyond the growth-maximizing level is Pareto superior.
AB - We study the effects of labor intensive health care within a research and development (R&D) driven growth model with overlapping generations. Health care increases longevity, labor participation, and productivity, while it also diverts labor away from production and R&D. We examine under which conditions expanding health care enhances growth and welfare and establish mild conditions under which the provision of health care beyond the growth-maximizing level is Pareto superior.
UR - https://www.sciencedirect.com/science/article/abs/pii/S0167629616000266
U2 - 10.1016/j.jhealeco.2016.01.009
DO - 10.1016/j.jhealeco.2016.01.009
M3 - Journal article
SN - 0167-6296
VL - 46
SP - 100
EP - 119
JO - Journal of Health Economics
JF - Journal of Health Economics
ER -