{"title":"The value of longevity: An international analysis","authors":"Gabriel X. Martinez","doi":"10.13043/dys.90.1","DOIUrl":null,"url":null,"abstract":"The economic value of increases in the length of life is estimated for a large set of countries using age-specific data on consumption, leisure earnings, and mortality. Estimates are sensitive to parameters on intertemporal substitution and minimum consumption, and to the interest rate. A scenario of improvement of 1/10000 survival probabilities across life results in Value of Statistical Life (VSL) gains at the beginning of life of around USD $500 for the wealthier countries, $200 for middle-income, and $30 for the poorest. Benchmark income elasticities are in general below 1, except for low-income countries at older ages. The income elasticity of VSL is calculated directly, and not, as in previous literature, calculated for less developed countries based on measurements for wealthier countries.","PeriodicalId":52469,"journal":{"name":"Desarrollo y Sociedad","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2022-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Desarrollo y Sociedad","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.13043/dys.90.1","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"Social Sciences","Score":null,"Total":0}
引用次数: 0
Abstract
The economic value of increases in the length of life is estimated for a large set of countries using age-specific data on consumption, leisure earnings, and mortality. Estimates are sensitive to parameters on intertemporal substitution and minimum consumption, and to the interest rate. A scenario of improvement of 1/10000 survival probabilities across life results in Value of Statistical Life (VSL) gains at the beginning of life of around USD $500 for the wealthier countries, $200 for middle-income, and $30 for the poorest. Benchmark income elasticities are in general below 1, except for low-income countries at older ages. The income elasticity of VSL is calculated directly, and not, as in previous literature, calculated for less developed countries based on measurements for wealthier countries.
期刊介绍：
The Revista Desarrollo y Sociedad is an academic and open access journal, published each semester, that belongs to the Centro de Estudios sobre Desarrollo y Sociedad (CEDE) of the School of Economics at Universidad de los Andes (Colombia). The journal seeks to disseminate the investigations and academic projects develop at Universities and Research Centers, at a national and international level; it is addressed to economists and researchers of related fields. The special editions are selected aiming to choose topics highly relevant to the area of Economy. The call for papers is permanently open.
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