Dynamic Interactions Between Health, Human Capital and Wealth

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dc.contributor.author Zhang, Wei-Bin
dc.date.accessioned 2018-01-17T21:35:49Z
dc.date.available 2018-01-17T21:35:49Z
dc.date.issued 2018-01-03
dc.identifier.issn 2079-3715
dc.identifier.uri http://dspace.epoka.edu.al/handle/1/1808
dc.description.abstract This paper proposes a dynamic economic model with health, human capital and wealth accumulation with elastic labor supply. The economic system consists of one industrial, one health, and one education sector. Our model is a synthesis of four main models in economic theory: Solow’s one-sector neoclassical growth mode, the Uzawa-Lucas two sector model, Arrow’s learning by doing model, and Grossman’s growth model with health. The model also includes Zhang’s idea about creative leisure or learning by consuming. Demand and supply of health service and education are determined by market mechanism. The model describes dynamic interdependence among wealth, health, human capital, economic structure, and time distribution among work, health caring, and education under perfect competition. We simulate the model and examine effects of changes in the propensity to consume health caring, the efficiency of producing health caring, the propensity to receive education, and the propensity to save. en_US
dc.language.iso en_US en_US
dc.publisher Academicus International Scientific Journal en_US
dc.subject health en_US
dc.subject human capital en_US
dc.subject wealth accumulation en_US
dc.subject economic structure en_US
dc.title Dynamic Interactions Between Health, Human Capital and Wealth en_US
dc.type Article en_US

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