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Debt, Deficits, and Age-Specific Mortality

This paper develops an overlapping agents model with age-specific mortality rates. The analytical framework also nests Blanchard's (1985) "perpetual youth" model as a special, though perhaps not realistic, case. With age specific mortality rates, youth is "fleeting." Using s...

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Bibliographic Details
Main Author: Faruqee, Hamid
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2002
Series:IMF Working Papers
Subjects:
Population & Demography
Health
Wealth
Economics
Public Debt
Economics Of The Handicapped
Finance
Non-labor Market Discrimination
Discount
Public Finance & Taxation
Saving
Debt Management
Fiscal Policy
Debts, Public
Debt
Economics Of The Elderly
Aging
Population Aging
Health Economics
Sovereign Debt
Health: General
Demography
Discount Rates
Banks And Banking
Consumption
Macroeconomics
Macroeconomics: Consumption
Interest Rates: Determination, Term Structure, And Effects
Public Finance
Forecasting And Simulation: Models And Applications
Fiscal Policies And Behavior Of Economic Agents: Household
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper develops an overlapping agents model with age-specific mortality rates. The analytical framework also nests Blanchard's (1985) "perpetual youth" model as a special, though perhaps not realistic, case. With age specific mortality rates, youth is "fleeting." Using standard hyperbolic functions, the model with fleeting youth is able to closely replicate the empirical relation between age and mortality. The comparative implications for deficit finance are also examined and age-specific mortality is shown to alter the non-Ricardian properties of the model
Physical Description:20 pages
ISBN:9781451843750

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