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Lifespan and Output

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  • Swanson, Charles E
  • Kopecky, Kenneth J

Abstract

This paper develops a finite-lifetime continuous-time model of human capital acquisition. Exogenous technological progress has two aspects, a knowledge frontier and an ease-of-learning parameter. The authors find that as lifespan increases: (1) output per person-hour rises in a concave fashion and (2) learning during the work-phase of life only occurs when individuals have a sufficiently long lifespan. As a result, countries that differ in the average lifespan of their inhabitants can have permanently different levels of output per person even in the presence of free trade, perfect capital markets, and common production functions. Copyright 1999 by Oxford University Press.

Suggested Citation

  • Swanson, Charles E & Kopecky, Kenneth J, 1999. "Lifespan and Output," Economic Inquiry, Western Economic Association International, vol. 37(2), pages 213-225, April.
    • Handle: RePEc:oup:ecinqu:v:37:y:1999:i:2:p:213-25
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    Cited by:

    1. Huang, Rui & Fulginiti, Lilyan E. & Peterson, E. Wesley F., 2003. "Investing in Hope: AIDS, Life Expectancy, and Human Capital Accumulation," 2003 Annual Meeting, August 16-22, 2003, Durban, South Africa 25808, International Association of Agricultural Economists.
    2. Osang, Thomas & Sarkar, Jayanta, 2005. "Endogenous Mortality, Human Capital and Endogenous Growth," Departmental Working Papers 0511, Southern Methodist University, Department of Economics.
    3. Cervellati, Matteo & Sunde, Uwe, 2002. "Human Capital Formation, Life Expectancy and the Process of Economic Development," IZA Discussion Papers 585, Institute of Labor Economics (IZA).
    4. Matteo Cervellati & Uwe Sunde, 2005. "Human Capital Formation, Life Expectancy, and the Process of Development," American Economic Review, American Economic Association, vol. 95(5), pages 1653-1672, December.
    5. Rui Huang & Lilyan E. Fulginiti & E. Wesley F. Peterson, 2010. "Health and growth: causality through education," China Agricultural Economic Review, Emerald Group Publishing Limited, vol. 2(3), pages 321-344, September.

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