Arbeitspapier
Health investment over the life-cycle
We study the evolution of health investment over the life-cycle by calibrating a model of endogenous health accumulation. The model is able to produce the decline in labor supply with age as well as the hump-shaped consumption profile. In both cases, health and health investment play a crucial role as the former encroaches upon healthy time and the latter crowds out non-medical expenditures as people age. Finally, we quantify the value of health as both an investment and a consumption good. We show that the investment motive is about three times higher than the consumption motive during the early 20s, but decreases over the life-cycle until it disappears at retirement. In contrast, the consumption motive increases with age and surpasses the investment motive during the mid 40s.
- Sprache
-
Englisch
- Erschienen in
-
Series: IZA Discussion Papers ; No. 4482
- Klassifikation
-
Wirtschaft
Health Behavior
- Thema
-
Health investment
structural model
medical expenditures
Gesundheitsvorsorge
Lebenszyklus
Verbraucherausgaben
USA
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Halliday, Timothy J.
He, Hui
Zhang, Hao
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute for the Study of Labor (IZA)
- (wo)
-
Bonn
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Halliday, Timothy J.
- He, Hui
- Zhang, Hao
- Institute for the Study of Labor (IZA)
Entstanden
- 2009
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