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• W2207065811 abstract "Better health not only boosts longevity in itself, it also postpones the initial onset of disability and chronic inrmity to a later age. In this paper we examine the potential eects of such compression of morbidity' on pensions, and introduce a health-dependent dimension to the standard pay-as-you-go (PAYG) pension scheme. Studying the long-term implications of such a system in a simple overlapping generations framework, we nd that an increase in public health investment can augment capital accumulation in the long run. Because of this, the combination of health investment with a partially health-dependent PAYG scheme may in fact outperform a purely PAYG system in terms of lifetime welfare." @default.
• W2207065811 created "2016-06-24" @default.
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• W2207065811 date "2015-07-04" @default.
• W2207065811 modified "2023-09-23" @default.
• W2207065811 title "Invest as You Go: How Public Health Investment Keeps Pension Systems Healthy" @default.
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