Ageing, Health, and Productivity: The Economics of Increased Life Expectancy

Hardcover | December 14, 2010

EditorPietro Garibaldi, Joaquim Oliveira-Martins, Jan van Ours

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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 ageing and longevity over the next twenty years is oneof the major structural challenges faced by policy makers in advanced economies, particularly in health spending, social security administration, and labour market institutions. This book looks closely into those challenges and identifies the fundamental issues at both the macroeconomic andmicroeconomic 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 inlabour market institutions. The second part of the book looks closely into the microeconomic relationship between population ageing 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 detailedanalysis 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 complexrelationship between population ageing and longevity is not written in stone, and can be modified by properly designed choices.

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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 ageing and longevity over the next twenty years is oneof the major structural challenges faced by ...

Pietro Garibaldi is Professor of Economics at the University of Torino, and Director and Fellow of the Collegio Carlo Alberto. He is also head of Labour Studies at the Fondazione DeBenedetti, and research fellow at IGIER (Milan), CEPR (London), and IZA (Bonn). He is a supervisory board and audit committee member of Intesa SanPaolo. He...

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Format:HardcoverDimensions:288 pages, 9.21 × 6.14 × 0.01 inPublished:December 14, 2010Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199587132

ISBN - 13:9780199587131

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Table of Contents

Part I: Health, Expenditure, Longevity and GrowthBrigitte Dormont, Joaquim Oliveira Martins, Florian Pelgrin and Marc Suhrcke: 1. Transitory vs. Permanent Demographic Shocks: From Ageing to Longevity2. The Growth of Health Expenditure: Ageing vs. Technological Progress3. Preferences Towards Health Care: Is Health a Luxury Good?4. Integrating the Different Drivers: Projections of Total Health Expenditure 2025-20505. The Impact of Health on Productivity and Growth6. Summary and Policy DiscussionAnnex I: Specification of the Utility Function and the Income ElasticityAnnex II: Data Sources and Methods of Health Expenditure ProjectionsComments by Axel Boersch-Supan and Vincenzo GalassoPart II: Age and ProductivityPekka Ilmakunnas, Vegard Skirbekk, Jan van Ours and Matthias Weiss: 7. Introduction - Setting the Stage8. The Grand View on Age and Productivity9. Age and Absenteeism10. Age and Working Capacity11. Age and Productivity: An Analysis at the Plant and the Team Level12. Conclusions and Policy ImplicationsComments by Enrico Moretti and Etienne Wasmer