le 26 septembre 2024
14h00 - 15h30 Salle Picasso
GREDEG - Bâtiment 2 - Campus Azur du CNRS - 250 rue Albert Einstein - SOPHIA ANTIPOLIS
GREDEG
Authors: Michael Kuhn, Antonio Minniti, Klaus Prettner, Francesco Venturini
Abstract:
To analyze the causal effects of medical innovation on economic growth, we propose an
R&D-based economic growth model with overlapping generations, wherein life expectancy
depends on healthcare utilization and medical innovation, and we then empirically test the
model’s implications. Our findings reveal a clear causal pathway from medical innovation to
economic growth, with increasing life expectancy serving as a key transmission channel.
A positive and significant effect emerges in intermediate stages of development but not in early
stages and in late stages. This is because medical innovation positively affects the working
age population mainly in intermediate stages of development
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