Longevity-induced vertical innovation and the tradeoff between life and growth
Longevity-induced vertical innovation and the tradeoff between life and growth
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长寿引发的垂直创新以及生命与成长之间的权衡
DOI：
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发表时间：
2018
影响因子：
6.1
通讯作者：
Paul Tscheuschner
中科院分区：
文献类型：
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作者：
A. Baldanzi;K. Prettner;Paul Tscheuschner
我们分析了经济增长的影响，寿命的增长在一个框架内的内生增长驱动的质量改进的创新。寿命的延长增加了储蓄，从而对市场利率施加了下行压力。由于成功的创新所产生的垄断利润被内生市场利率贴现，这提高了创新的净现值，反过来又促进了研发投资。科学家就业的相应增加导致更快的技术进步和更高的长期经济增长率。从福利的观点来看，预期寿命的延长所带来的直接影响往往大于经济增长加快所带来的消费增加所带来的间接影响。因此，关于医疗保健支出增加的辩论不应主要基于医疗保健的增长效应。
We analyze the economic growth effects of rising longevity in a framework of endogenous growth driven by quality-improving innovations. A rise in longevity increases savings and thereby places downward pressure on the market interest rate. Since the monopoly profits generated by a successful innovation are discounted by the endogenous market interest rate, this raises the net present value of innovations, which, in turn, fosters R&D investments. The associated increase in the employment of scientists leads to faster technological progress and a higher long-run economic growth rate. From a welfare perspective, the direct effect of an increase in life expectancy tends to be larger than the indirect effect of the induced higher consumption due to faster economic growth. Consequently, the debate on rising health care expenditures should not be predominantly based on the growth effects of health care.
将企业带入股票市场：首次公开募股和德意志帝国大型银行的重要性，1896 年至 1913 年
DOI：
10.1111/1468-0289.12016
发表时间：
2014
期刊：
European Finance eJournal
影响因子：
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作者：
Lehmann
通讯作者：
Lehmann