题目：Health Investment over the Life-Cycle
报告人：Hui He, University of Hawaii
时间：2:00-3:30pm, June 2 (Tuesday)
地点：Rm 217, New Building
论文：0809-23
Abstract:
We study the evolution of health investment over the life-cycle within the context of an overlapping generations general equilibrium model. We calibrate the model to match key economic aggregates and quantify the importance of health as both a consumption and investment good. Good health has a high investment value early in the life-course, but this steadily declines with age until retirement when it is zero. In contrast, the consumption value of health exhibits a hump shape due to a continuously increasing marginal utility of health and an effective discount factor that decreases with age. Health investment, which is driven by both consumption and investment motives, also affects individuals labor supply and consumption decision over the life-cycle.
