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dc.contributor.authorHalliday, Timothy J.en
dc.contributor.authorHe, Huien
dc.contributor.authorZhang, Haoen
dc.date.accessioned2009-12-01-
dc.date.accessioned2010-07-07T12:05:51Z-
dc.date.available2010-07-07T12:05:51Z-
dc.date.issued2009-
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
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x4482en
dc.subject.jelI12en
dc.subject.ddc330en
dc.subject.keywordHealth investmenten
dc.subject.keywordstructural modelen
dc.subject.keywordmedical expendituresen
dc.subject.stwGesundheitsvorsorgeen
dc.subject.stwLebenszyklusen
dc.subject.stwVerbraucherausgabenen
dc.subject.stwUSAen
dc.titleHealth investment over the life-cycle-
dc.type|aWorking Paperen
dc.identifier.ppn61397008Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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