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    Longevity and companionship in an overlapping-generations model

    Zoega, Gylfi and Gestsson, M.H. (2018) Longevity and companionship in an overlapping-generations model. Working Paper. Birkbeck, University of London, London, UK.

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    We derive a golden rule for the level of life-extending health care when the utility of the old depends not only their level of consumption but also on the number of old people alive. While previous work has emphasized the negative pecuniary externality from longevity, we derive the effect of the positive non-pecuniary externality of being able to consume with other members of one’s cohort.


    Item Type: Monograph (Working Paper)
    Additional Information: BWPEF 1811
    Keyword(s) / Subject(s): Longevity, health care expenditures, companionship.
    School: School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Depositing User: Administrator
    Date Deposited: 25 Mar 2019 10:49
    Last Modified: 12 Jan 2023 03:55


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