【Macro Seminar】A Dynastic Perspective on the Value of Life with Endogenous Fertility
2025/12/05
研討會日期 : 2025-12-05
時間 : 14:30
主講人 : Professor Youngsoo Jang
地點 : Conference Room B110
主持人 : Professor Tsung-Hsien Li
演講者簡介 : Professor Youngsoo Jang received his Ph.D. in Economics from the Ohio State University in 2017. He is currently an Associate Professor at Yonsei University. His research interests are Macroeconomics, Fiscal and Public Policies, Family Economics, and Computational Methods.
演講摘要 : This paper studies how dynastic considerations shape the Value of a Statistical Life (VSL). We show that when parents care about both the quantity and quality of their descendants, the shadow value of longevity is fundamentally altered. Our theoretical analysis demonstrates that models omitting endogenous fertility systematically overestimate the VSL, as they fail to capture the intergenerational trade-offs induced by childbearing and human capital investment. Quantitative exercises reveal that increases in longevity among the elderly can either weaken or strengthen the dynamic component of the VSL, depending on how fertility–quality trade-offs interact with inter vivos transfers and the returns to human capital accumulation. These findings highlight that the VSL is determined not only by medical and health-related factors but also by deeper family and education-related characteristics that govern intergenerational resource allocation.
