A mixed blessing of lifespan heterogeneity

Gahramanov, Emin and Tang, Xueli 2013, A mixed blessing of lifespan heterogeneity, Journal of the Japanese and international economies, vol. 29, pp. 142-153, doi: 10.1016/j.jjie.2013.07.001.

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Title A mixed blessing of lifespan heterogeneity
Author(s) Gahramanov, Emin
Tang, XueliORCID iD for Tang, Xueli orcid.org/0000-0002-7408-4054
Journal name Journal of the Japanese and international economies
Volume number 29
Start page 142
End page 153
Total pages 12
Publisher Elsevier BV
Place of publication Amsterdam, The Netherlands
Publication date 2013-09
ISSN 0889-1583
Keyword(s) general equilibrium
lifespan heterogeneity
life expectancy
variance in adult age at death
compensating variation
Summary Human mortality data reveal that life expectancy in industrialized countries has been converging to a common value. Yet, significant variations in the distributions of adult life-table ages at death among some developed countries have also been observed. This paper, largely motivated by Japan’s mortality data, presents a general equilibrium, overlapping-generations model that assesses the welfare effects of the mean-preserving declines in the variance of the distribution of adult ages at death. Our quantitative exercise reveals that for a given value of the economy-wide life expectancy, the individual welfare effects due to switching from high to low-variance steady states are length of life-dependent, quite sensitive to the average economy-wide retirement age, and strongly influenced by associated changes in the labor supply, factor prices, and lifetime earnings.
Language eng
DOI 10.1016/j.jjie.2013.07.001
Field of Research 140102 Macroeconomic Theory
Socio Economic Objective 910109 Savings and Investments
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2013
Copyright notice ©2013, Elsevier
Persistent URL http://hdl.handle.net/10536/DRO/DU:30057039

Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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