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Ageing, Health, and Productivity - The Economics of Increased Life Expectancy (Hardcover)
Loot Price: R4,752
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Ageing, Health, and Productivity - The Economics of Increased Life Expectancy (Hardcover)
Series: Fondazione Rodolfo Debendetti Reports
Expected to ship within 10 - 15 working days
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Increase in life expectancy is arguably the most remarkable
by-product of modern economic growth. In the last 30 years we have
gained roughly 2.5 years of longevity every decade, both in Europe
and the United States. Successfully managing aging and longevity
over the next twenty years is one of the major structural
challenges faced by policy makers in advanced economies,
particularly in health spending, social security administration,
and labor market institutions. This book looks closely into those
challenges and identifies the fundamental issues at both the
macroeconomic and microeconomic level.
The first half of the book studies the macroeconomic relationships
between health spending, technological progress in medical related
sectors, economic growth, and welfare state reforms. In the popular
press, longevity and population ageing are typically perceived as a
tremendous burden. However, with a proper set of reforms, advanced
economies have the option of transforming the enormous challenge
posed by longevity into a long term opportunity to boost aggregate
outcomes. The basic prerequisite of a healthy ageing scenario is a
substantial structural reform in social security and in labor
market institutions.
The second part of the book looks closely into the microeconomic
relationship between population aging and productivity, both at the
individual and at the firm level. There is surprisingly little
research on such key questions. The book contributes to this debate
in two ways. It presents a detailed analysis of the determinants of
productivity, with a focus on both the long-run historical
evolution and the cross sectional changes. It also uses econometric
analysis to look into the determinants of the various dimensions of
individual productivity. The volume concludes that the complex
relationship between population ageing and longevity is not written
in stone, and can be modified by properly designed choices.
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