The Influence of Public Policy on Health, Wealth and Mortality
dc.contributor.author | Scholz, John Karl | |
dc.contributor.author | Seshadri, Ananth | |
dc.date.accessioned | 2011-11-21T19:30:52Z | |
dc.date.available | 2011-11-21T19:30:52Z | |
dc.date.issued | 2011-09 | |
dc.identifier.uri | https://hdl.handle.net/2027.42/87958 | |
dc.description.abstract | In this project we extend an augmented lifecycle model, incorporating a Grossman-style model of health capital, to enhance understanding of factors influencing consumption, wealth and health. We develop three primary results when using the model to explore the effects of stylized versions of Medicare and Social Security on wealth and longevity. First, our model calibration implies consumption and health are complements. As health depreciates with age, households will get less utility from consumption than would be in the case of a lifecycle model that does not endogenize health. Second, it appears that forward-looking households, when confronted by a substantially reduced safety net, will respond by reducing consumption and by reducing their health investment and therefore longevity. Third, there is a potentially important difference between short- and long- run responses to policy. | en_US |
dc.description.sponsorship | Social Security Administration | en_US |
dc.language.iso | en_US | en_US |
dc.publisher | Michigan Retirement Research Center, University of Michigan, P.O. Box 1248, Ann Arbor, MI 48104 | en_US |
dc.relation.ispartofseries | 2011-12 | en_US |
dc.relation.ispartofseries | WP 252 | en_US |
dc.subject | Lifecycle Model, Grossman-style Model of Health Capital. | en_US |
dc.title | The Influence of Public Policy on Health, Wealth and Mortality | en_US |
dc.type | Working Paper | en_US |
dc.subject.hlbsecondlevel | Population and Demography | |
dc.subject.hlbtoplevel | Social Sciences | |
dc.contributor.affiliationother | University of Wisconsin | en_US |
dc.contributor.affiliationother | University of Wisconsin | en_US |
dc.contributor.affiliationumcampus | Ann Arbor | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/87958/1/wp252.pdf | |
dc.owningcollname | Retirement and Disability Research Center, Michigan (MRDRC) |
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