Optimal Aging and Death

Publikation: Working paper › Forskning

Standard

Optimal Aging and Death. / Dalgaard, Carl-Johan Lars; Strulik, Holger.

Hannover, Germany, 2010.

Publikation: Working paper › Forskning

Harvard

Dalgaard, C-JL & Strulik, H 2010 'Optimal Aging and Death' Hannover, Germany.

APA

Dalgaard, C-J. L., & Strulik, H. (2010). Optimal Aging and Death.

Vancouver

Dalgaard C-JL, Strulik H. Optimal Aging and Death. Hannover, Germany. 2010.

Author

Dalgaard, Carl-Johan Lars ; Strulik, Holger. / Optimal Aging and Death. Hannover, Germany, 2010.

Bibtex

@techreport{cbaf3e40935f11df928f000ea68e967b,
title = "Optimal Aging and Death",
abstract = "This study introduces physiological aging into a simple model of optimal intertemporalconsumption. In this endeavor we draw on the natural science literature onaging. According to the purposed theory, the speed of the aging process and the timeof death are endogenously determined by optimal health investments. At the same time,physiological aspects of the aging process influence optimal savings and health investment.We calibrate the model for the average US male in 2000 and proceed to show that thecalibrated model accounts well for the cross-country link between labor productivity andlife expectancy in the same year ({"}the Preston curve{"}); cross-country income differencescan explain differences in life expectancy at age 20 of up to a decade. Moreover, technologicalchange in health care of about 1.1% per year can account for the observed shift inthe Preston curve between 1980 and 2000.",
keywords = "Faculty of Social Sciences, aging, longevity, health investments, savings, Preston curve",
author = "Dalgaard, {Carl-Johan Lars} and Holger Strulik",
note = "JEL classification: D91, J17, J26, I12",
year = "2010",
language = "English",
type = "WorkingPaper",

}

RIS

TY - UNPB

T1 - Optimal Aging and Death

AU - Dalgaard, Carl-Johan Lars

AU - Strulik, Holger

N1 - JEL classification: D91, J17, J26, I12

PY - 2010

Y1 - 2010

N2 - This study introduces physiological aging into a simple model of optimal intertemporalconsumption. In this endeavor we draw on the natural science literature onaging. According to the purposed theory, the speed of the aging process and the timeof death are endogenously determined by optimal health investments. At the same time,physiological aspects of the aging process influence optimal savings and health investment.We calibrate the model for the average US male in 2000 and proceed to show that thecalibrated model accounts well for the cross-country link between labor productivity andlife expectancy in the same year ("the Preston curve"); cross-country income differencescan explain differences in life expectancy at age 20 of up to a decade. Moreover, technologicalchange in health care of about 1.1% per year can account for the observed shift inthe Preston curve between 1980 and 2000.

AB - This study introduces physiological aging into a simple model of optimal intertemporalconsumption. In this endeavor we draw on the natural science literature onaging. According to the purposed theory, the speed of the aging process and the timeof death are endogenously determined by optimal health investments. At the same time,physiological aspects of the aging process influence optimal savings and health investment.We calibrate the model for the average US male in 2000 and proceed to show that thecalibrated model accounts well for the cross-country link between labor productivity andlife expectancy in the same year ("the Preston curve"); cross-country income differencescan explain differences in life expectancy at age 20 of up to a decade. Moreover, technologicalchange in health care of about 1.1% per year can account for the observed shift inthe Preston curve between 1980 and 2000.

KW - Faculty of Social Sciences

KW - aging

KW - longevity

KW - health investments

KW - savings

KW - Preston curve

M3 - Working paper

BT - Optimal Aging and Death

CY - Hannover, Germany

ER -

ID: 20921469