Professor of Economics, School of Management of Université du Québec à Montréal and Chairholder of the Industrial Alliance Research Chair on the Economics of Demographic Change
Future Longevity and Population Health Improvements: An Economic Perspective
Most western societies are aging fast. Canada and in particular Quebec are no exception. While traditional factors such as fertility and immigration are projected to remain steady, much more uncertainty exists concerning health and longevity. What is the likely pace of increase in life expectancy in decades to come? What could be the influence of medical progress while at the same time accompanied by an increase in obesity-retated health conditions such as diabetes? What are the economic implications for health care costs, for pension plans and the economy in general?
Pierre-Carl Michaud is a Professor of Economics at ESG UQAM. He holds the Industrielle Alliance Research Chair on the Economics of Demographic Change at ESG UQAM and is Vice-president of the Public Policy Group at CIRANO, a research organization based in Montreal. He is also an affiliated adjunct economist at the RAND Corporation. Prof. Michaud has produced a number of publications on the economic impacts of population health changes, one of which received the Economic Impact of Medical Research Award in 2009 from Research America. His research has been funded by many organizations such as the National Institutes of Health.
The Industrial Alliance Research Chair on the Economics of Demographic Change relies on a collaboration between UQAM’s École des sciences de la gestion (management school) and Université Laval’s Faculty of social sciences to advance scientific knowledge and provide decision-makers with useful evidence on economic issues related to demographic change.
The Chair’s research program builds upon research results that have led to the construction of an initial, well-performing micro-simulation model of Quebec’s population for the period 2010-2030. The model allows for the analysis of the distribution of living conditions (family, income, wealth, health) and of the nature of some individual and household behaviour (household formation, fertility, migration, work, saving) over a 20-year period, and to prospectively simulate their sensitivity to various economic policies and macro-economic conditions. Among other aspects, this unique expertise provides an economically consistent way of understanding and predicting family and individual behaviour, as well as an understanding of their effects on private and social welfare.