Aging society,health and the environment |
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Authors: | Carlotta?Balestra Email author" target="_blank">Davide?DottoriEmail author |
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Institution: | 1.Université catholique de Louvain (CORE),Louvain-la-Neuve,Belgium;2.Banca d’Italia,Central Banking Department,Rome,Italy |
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Abstract: | In a general-equilibrium OLG model with endogenous longevity, a political economy and a social planner solution are contrasted
mainly with respect to public supplies of health care and environment protection. The latter is relatively more supported
by the young because its beneficial effect on longevity takes more time to occur but then lasts longer; while the old relatively
prefer health spending. With population aging, political claims for health care expenditure are self-reinforcing. This framework
is able to generate a quite rich set of results. In the political economy larger health care/consumption and health care/environmental
quality ratios are implemented. Changes in risk aversion, production pollution, health inputs’ elasticity of substitution
may have opposite impacts across regimes. More complete annuity markets improve welfare. Further comparative statics is analyzed. |
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Keywords: | |
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