We analyze the effects of children's health on human capital accumulation and on long-run economic growth. For this purpose, we design an R&D-based growth model in which the stock of human capital of the next generation is determined by parental education and health investments. We show that (i) there is a complementarity between education and health: if parents want to have better educated children, they also raise health investments and vice versa; (ii) parental health investments exert an unambiguously positive effect on long-run economic growth, (iii) faster population growth reduces long-run economic growth. These results are consistent with the empirical evidence for modern economies in the twentieth century.
Children’s health, human capital accumulation, and R&D-based economic growth / A. Baldanzi, A. Bucci, K. Prettner. - In: MACROECONOMIC DYNAMICS. - ISSN 1365-1005. - (2019 May 28). [Epub ahead of print]
Children’s health, human capital accumulation, and R&D-based economic growth
A. BaldanziPrimo
;A. BucciSecondo
;
2019
Abstract
We analyze the effects of children's health on human capital accumulation and on long-run economic growth. For this purpose, we design an R&D-based growth model in which the stock of human capital of the next generation is determined by parental education and health investments. We show that (i) there is a complementarity between education and health: if parents want to have better educated children, they also raise health investments and vice versa; (ii) parental health investments exert an unambiguously positive effect on long-run economic growth, (iii) faster population growth reduces long-run economic growth. These results are consistent with the empirical evidence for modern economies in the twentieth century.File | Dimensione | Formato | |
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