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Long lifespan and optimal recurrent education

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  • Akira Momota

Abstract

This paper theoretically investigates the effect of increased longevity on years of schooling and work. I consider a situation in which individuals have opportunities for recurrent education by assuming that the transition from schooling to work is reversible. I find that setting aside a period of time for recurrent education is optimal for individuals when the lifespan is longer than a certain threshold number of years. When the lifespan is longer than the threshold, as the lifespan increases, both the total schooling years and the working years increase and the lifetime income increases. However, the marginal effect of a rise in lifespan on the lifetime income decreases significantly when recurrent education occurs. Longue durée de vie et éducation récurrente optimale. Cet article examine d'un point de vue théorique l'effet de l'augmentation de la longévité sur les années de scolarité et de travail. J'examine une situation dans laquelle il est possible d'entreprendre une éducation récurrente, en présumant que la transition de l'école au travail est réversible. Je constate que le fait de réserver une période à l'éducation récurrente est optimal lorsque la durée de vie est plus longue qu'un certain seuil. Lorsque la durée de vie est plus longue que ce seuil, et à mesure que la durée de vie augmente, le nombre d'années de scolarité et d'années de travail augmente, tout comme le revenu à vie. Toutefois, l'effet marginal sur le revenu à vie d'une augmentation de la durée de vie diminue considérablement lorsque la personne entreprend une éducation récurrente.

Suggested Citation

  • Akira Momota, 2022. "Long lifespan and optimal recurrent education," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 55(2), pages 1193-1222, May.
  • Handle: RePEc:wly:canjec:v:55:y:2022:i:2:p:1193-1222
    DOI: 10.1111/caje.12597
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    More about this item

    JEL classification:

    • D15 - Microeconomics - - Household Behavior - - - Intertemporal Household Choice; Life Cycle Models and Saving
    • I29 - Health, Education, and Welfare - - Education - - - Other
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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