Gdp, episode 327 - WHEN DOES IMPROVING HEALTH RAISE GDP?

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Episode #327: Mario Gabelli, GAMCO Investors, “We Have Accumulated Compounded Knowledge of Certain Industries Over An Extended Period Of Time”

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An understanding of the demographic dynamics that accompany health improvements therefore suggests complementary policies and investments.

  • We assume as a base case a transition period of 50 years.

  • Another possibility is that there is something wrong with the Acemoglu and Johnson instrument for changes in life expectancy.

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We assume that in the long run, fertility adjusts proportionally at each age such that the growth rate of the population eventually returns to its pre-shock level.

  • The path of output per worker reflects the dynamics of human and physical capital per worker, as well as land per worker which we do not show, but which can be inferred from.

  • Thanks so much for joining us.




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