Did Longer Lives Buy Economic Growth?From Malthus to Lucas and Ben-Porath

The note provides a summary of the possible impact of increases in adult longevity on economic growth with a focus on two particular channels: the contact time effect and the incentive effect. After documenting empirical evidence concerning the rise of longevity, two methods to measure longevity are presented, namely the Gompertz Law and the BCL Law of Mortality. These methods are then applied qualitatively and quantitatively to various models to show the effect of longevity on growth. Overall, the note concludes that increases in longevity are quantitatively significant for the increases in growth observed over the last two centuries and calls for the consideration of demographic factors when examining determinants of growth