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Journal Article
Health and Economic Development from Cross-Country Perspectives
In this article, we provide a comprehensive overview of the role that health plays in economic development. We study cross-country differences in income and health and examine the underused value-of-life and life-year gain measures. In particular, we compare two value-of-life measures, one based on life expectancy and lifetime utility, and the other based on adult mortality and life insurance data. We find that the perception and receptiveness of life insurance are likely better in countries at more advanced stages of economic development. The value-of-life measure based on life insurance ...
Working Paper
A two-sector model of endogenous growth with leisure externalities
This paper considers the impact of leisure preference and leisure externalities on growth and labor supply in a Lucas [12] type model, as in Gmez [7], with a separable non-homothetic utility and the assumption that physical and human capital are both necessary inputs in both the goods and the education sectors. In spite of the non-concavities due to the leisure externality, the balanced growth path is always unique, which guarantees global stability for comparative-static exercises. We find that small differences in preferences toward leisure or in leisure externalities can generate ...
Journal Article
Fertility and Internal Migration
While there is a renewed literature connecting internal migration to various issues related to structural transformation such as urban labor and housing markets, the relationship between internal migration and demographic transition is much under-studied despite its importance in the process of economic development. Our article fills this knowledge gap. By constructing a simple dynamic framework in which fertility and rural-urban migration decisions are both determined, we show that more-rapid urban productivity advancement can lead to a positive relationship between migration and fertility. ...