Biomedical Progress Rates as New Parameters for Models of Economic Growth in Developed Countries
Bibliographic Data
| ID | 15512902 |
|---|---|
| Authors | Alex Zhavoronkov (0000-0001-7067-8966, Urology Foundation, corresponding author), Maria Litovchenko (0000-0003-1868-4933, Moscow Institute of Physics and Technology) |
| Year | 2013 |
| Volume | 10 |
| Issue | 11 |
| Pages | 5936-5952 |
| Publication date | 2013-11-08 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | International Journal of Environmental Research and Public Health (JOURNAL) |
| Journal identifiers | ISSN: 1661-7827 • E-ISSN: 1660-4601 |
| Publisher | Multidisciplinary Digital Publishing Institute (PUBLISHER • CH) |
| DOI | 10.3390/ijerph10115936 |
| PMID | 24217179 |
| PMCID | PMC3863879 |
| OpenAlex | W2109498135 |
| Language | EN |
| References cited | 35 |
While the doubling of life expectancy in developed countries during the 20th century can be attributed mostly to decreases in child mortality, the trillions of dollars spent on biomedical research by governments, foundations and corporations over the past sixty years are also yielding longevity dividends in both working and retired population. Biomedical progress will likely increase the healthy productive lifespan and the number of years of government support in the old age. In this paper we introduce several new parameters that can be applied to established models of economic growth: the biomedical progress rate, the rate of clinical adoption and the rate of change in retirement age. The biomedical progress rate is comprised of the rejuvenation rate (extending the productive lifespan) and the non-rejuvenating rate (extending the lifespan beyond the age at which the net contribution to the economy becomes negative). While staying within the neoclassical economics framework and extending the overlapping generations (OLG) growth model and assumptions from the life cycle theory of saving behavior, we provide an example of the relations between these new parameters in the context of demographics, labor, households and the firm
Biology · Birth rate · Context (archaeology · Demographic dividend · Demographic economics · Demographic transition · Demographics · Economics · Fertility · Labour economics · Life expectancy · Longevity · Mortality rate · Overlapping generations model · Population · Population ageing · Population growth · Sociology · Demography · Economic Growth and Productivity · Global Health Care Issues · Insurance, Mortality, Demography, Risk Management · Medicine · Gerontology
Aging in Advanced Industrial States
Medical Bankruptcy in the United States, 2007
Uncertain Lifetime, Life Insurance, and the Theory of the Consumer
The effect of population aging on health expenditure growth
Chapter 4 From Stagnation to Growth
On the mechanics of economic development
A Concise History of World Population
Technical Change and the Aggregate Production Function
Symposium on Health Care Reform
Long-run trends of human aging and longevity
Population aging, health care, and growth
Population aging, health care, and growth
Effects of longevity and dependency rates on saving and growth
The Role of Intergenerational Transfers in Aggregate Capital Accumulation
Economic Growth and Capital Accumulation
Capital Expansion, Rate of Growth, and Employment
Aging and health care utilization
Trends in healthy life expectancy in the United States, 1970-1990
How Longer Work Lives Ease the Crunch of Population Aging
The Origins of Endogenous Growth
| Citation velocity | historical |
|---|---|
| Highly cited | No |