Life Expectancy and Life-Cycle Wages: Evidence from the Cardiovascular Revolution in U.S. States

This paper exploits quasi-experimental variation in mortality from cardiovascular diseases
across U.S. states to establish a positive causal link between adult life expectancy and average
wages per worker. A cohort-specific analysis reveals that wage gains accrue to prime-age
workers between 25 and 54 as well as old-age workers above 65. This pattern is consistent
with a shift in life-cycle earnings toward a profile that increases more steeply for young ages
and that flattens out more slowly at advanced ages. Health improvements, higher educational
attainment, and changes in individual behavior constitute potential channels for this shift.