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Medical Innovations and Ageing: A Health Economics Perspective

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  • Volker Grossmann

Abstract

This paper discusses the relationship between medical innovations and ageing from a health economics perspective and surveys empirical evidence on medical R&D incentives, R&D costs of pharmaceuticals, and the cost-effectiveness of health innovations. Particular focus is on the endogeneity of medical technological progress to expected market size and on the conceptualization of ageing as an accumulation of health deficits. The paper also discusses the role of medical progress for longevity and health inequality and presents a framework to assess the effect of increased longevity on the value of life.

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  • Volker Grossmann, 2021. "Medical Innovations and Ageing: A Health Economics Perspective," CESifo Working Paper Series 9387, CESifo.
    • Handle: RePEc:ces:ceswps:_9387
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    File URL: https://www.cesifo.org/DocDL/cesifo1_wp9387.pdf
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    1. Volker Grossmann & Johannes Schünemann & Holger Strulik, 2024. "Fair Pension Policies with Occupation-Specific Ageing," The Economic Journal, Royal Economic Society, vol. 134(663), pages 2835-2875.

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    More about this item

    Keywords

    healthcare; health deficits; health innovations; medical technological progress; longevity;
    All these keywords.

    JEL classification:

    • I10 - Health, Education, and Welfare - - Health - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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