PART I: HEALTH, EXPENDITURE, LONGEVITY AND GROWTH ; 1. Transitory vs. Permanent Demographic Shocks: From Ageing to Longevity ; 2. The Growth of Health Expenditure: Ageing vs. Technological Progress ; 3. Preferences Towards Health Care: Is Health a Luxury Good? ; 4. Integrating the Different Drivers: Projections of Total Health Expenditure 2025-2050 ; 5. The Impact of Health on Productivity and Growth ; 6. Summary and Policy Discussion ; Annex I: Specification of the Utility Function and the Income Elasticity ; Annex II: Data Sources and Methods of Health Expenditure Projections ; Comments by Axel Boersch-Supan and Vincenzo Galasso ; PART II: AGE AND PRODUCTIVITY ; 7. Introduction - Setting the Stage ; 8. The Grand View on Age and Productivity ; 9. Age and Absenteeism ; 10. Age and Working Capacity ; 11. Age and Productivity: An Analysis at the Plant and the Team Level ; 12. Conclusions and Policy Implications ; Comments by Enrico Moretti and Etienne Wasmer

Tackles the issue of increased life expectancy and the impact it has on economies Presents new theoretical and empirical evidence Provides insights into the relationship between ageing and productivity Argues that population ageing can be seen as an opportunity, rather than a burden

Pietro Garibaldi is Professor of Economics at the University of Torino, and Director and Fellow of the Collegio Carlo Alberto. He is also head of Labour Studies at the Fondazione DeBenedetti, and research fellow at IGIER (Milan), CEPR (London), and IZA (Bonn). He is a supervisory board and audit committee member of Intesa SanPaolo. He is one of the founding and current editors of www.lavoce.info. Between 2004 and 2005 he was the Economic Counsellor of the Italian Ministry of Finance. He was previously an economist in the IMF Research Department and an Associate Professor of Economics at Bocconi University. He holds a PhD in Economics from LSE. His main research interests are in the macroeconomics of the labour market, with particular emphasis on labour force participation and the role of institutions. He has published in leading journals including the Review of Economic Studies and the Journal of the European Economics Association and he is author and editor of several books published by OUP. Joaquim Oliveira Martins is Head of the Structural Economic Statistics Division at the OECD. He was previously Senior Economist at the Economics Department heading projects on the Economics of Education, Ageing and Growth, and Health Systems. He was also Head of Desk for emerging markets (Brazil, Chile) and several transition countries. Other OECD projects include monographs on Competition, Regulation and Performance, and Policy Response to the Threat of Global Warming. He is lecturer at University of Paris-Dauphine and Sciences Po, Paris. He holds a PhD in Economics from University of Paris-I, Panthéon-Sorbonne. Jan van Ours is Professor in Labour Economics at the Department of Economics, Tilburg University and professorial fellow at the Department of Economics, University of Melbourne. His research focuses on unemployment dynamics, labour market policies and labour market institutions, and dynamics in use of illicit drugs. He studied economics at Erasmus University Rotterdam, where he also got his PhD. In 1996 he was awarded with the Hicks-Tinbergen medal of the European Economic Association. He has published in American Economic Review, Journal of Political Economy, Review of Economic Studies, Journal of Labor Economics, Economic Journal, Journal of Public Economics and Journal of Health Economics. Currently, he is research fellow of CentER, CEPR, CESifo and IZA and he is one of the managing editors of Economic Policy.

Tackles the issue of increased life expectancy and the impact it has on economies Presents new theoretical and empirical evidence Provides insights into the relationship between ageing and productivity Argues that population ageing can be seen as an opportunity, rather than a burden