How to order
IMF Publications

Working Papers in full text
2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 All


Other research-related activities and publications of the IMF can be found at IMF Research

Free Email Notification

Receive emails when we post new items of interest to you.

Subscribe or Modify your profile



Life Expectancy and Income Convergence in the World:A Dynamic General Equilibrium Analysis

Author/Editor: Ueda, Kenichi
Authorized for Distribution: June 1, 2008
Electronic Access: Free Full Text (PDF file size is 241KB)
Use the free Adobe Acrobat Reader to view this PDF file.
 
Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: There is world-wide convergence in life expectancy, despite little convergence in GDP per capita. If one values longer life much more than material happiness, the world living standards may this have already converged substantially. This paper introduces the concept of the dynastic general equilibrium value of life to measure welfare gains from the increase in life expectancy. A calibration study finds sizable welfare gains, but these gains hardly mitigate the large inequality among countries. A conventional GDP-based measure remains a good approximation for (non) convergence in world living standards, even when adjusted for changes in life expectancy.
 
Order a print copy
Series: Working Paper No. 08/158
Subject(s): Income distribution | Population | Aging | Welfare | Cost of living
Author's keyword(s): life expectancy | value of life | economic growth | income convergence.
 
English  
    Published:   June 1, 2008        
            Format:   Paper
    Stock No:   WPIEA2008158   Pages:   34
    Price:   US$18.00 (Academic Rate: US$18.00 )
       
     
Please address any questions about this title to publications@imf.org.