Endogenous fertility in a growth model with public and private health expenditures
We build an overlapping-generations model that incorporates endogenous fertility choices, in addition to public and private expenditures on health. Following the seminal analysis of Bhattacharya and Qiao (J Econ Dyn Control 31:2519–2535, 2007) we assume that the effect of public health investmen...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Springer-Verlag
2013
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/68199/ http://irep.iium.edu.my/68199/ http://irep.iium.edu.my/68199/ http://irep.iium.edu.my/68199/1/intan%20and%20varvarigos2012.pdf |
| Summary: | We build an overlapping-generations model that incorporates
endogenous fertility choices, in addition to public and private expenditures
on health. Following the seminal analysis of Bhattacharya and Qiao (J Econ
Dyn Control 31:2519–2535, 2007) we assume that the effect of public health
investment is complementary to private health expenditures. We find that this
effect reinforces the positive impact of the capital stock on aggregate saving.
Furthermore, we show that this complementarity can provide an additional
explanation behind a salient feature of demographic transition; that is, the
fertility decline along the process of economic growth. |
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