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dc.contributor.authorHalliday, Timothy J.en_US
dc.contributor.authorHe, Huien_US
dc.contributor.authorZhang, Haoen_US
dc.date.accessioned2009-12-01en_US
dc.date.accessioned2010-07-07T12:05:51Z-
dc.date.available2010-07-07T12:05:51Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/36074-
dc.description.abstractWe 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.en_US
dc.language.isoengen_US
dc.publisherForschungsinst. zur Zukunft der Arbeit Bonnen_US
dc.relation.ispartofseriesIZA Discussion Papers 4482en_US
dc.subject.jelI12en_US
dc.subject.ddc330en_US
dc.subject.keywordHealth investmenten_US
dc.subject.keywordstructural modelen_US
dc.subject.keywordmedical expendituresen_US
dc.subject.stwGesundheitsvorsorgeen_US
dc.subject.stwLebenszyklusen_US
dc.subject.stwVerbraucherausgabenen_US
dc.subject.stwUSAen_US
dc.titleHealth investment over the life-cycleen_US
dc.typeWorking Paperen_US
dc.identifier.ppn61397008Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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