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Statutory Retirement Age and Lifelong Learning

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Author Info
Thomas Gries () (University of Paderborn)
Stefan Jungblut () (University of Paderborn)
Tim Krieger () (University of Paderborn)
Henning Meier (University of Paderborn)

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Abstract

As societies age, pension reforms become a central issue. One proposition is to extend worklife. However, due to the endogenous depreciation of human capital in many countries the effective retirement age is even below the present statutory retirement age. We analyze this effect in a putty-putty human capital vintage model where the economic retirement age is endogenous. While a higher rate of technical progress will shorten working life, effects of international competition and outsourcing are determined by the terms of trade. As education is expected to solve the problem of too rapidly depreciating human capital we introduce a two stage education system with initial schooling and lifelong learning. However, not even lifelong learning is able to align the economic with the statutory retirement.

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File URL: http://groups.uni-paderborn.de/fiwi/RePEc/pdf/wpaper/WP09.pdf
File Format: application/pdf
File Function: First version, 2008
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Publisher Info
Paper provided by University of Paderborn, CIE Center for International Economics in its series Working Papers with number 9.

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Length: 44 pages
Date of creation: May 2008
Date of revision:
Handle: RePEc:pdn:wpaper:9

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Web page: http://www.uni-paderborn.de/fakultaeten/wiwi/department4/cie/
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Related research
Keywords: lifelong learning retirement unemployment education system

Find related papers by JEL classification:
J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
O33 - Economic Development, Technological Change, and Growth - - Technological Change - - - Technological Change: Choices and Consequences; Diffusion Processes
J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search

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References listed on IDEAS
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    Other versions:
  6. Desai, Meghnad, 1995. " An Endogenous Growth Cycle with Vintage Capital," Economic Change and Restructuring, Springer, vol. 28(2-3), pages 87-91.
  7. De Mello, L. Jr., 1995. "Vintage capital accumulation: Endogenous growth conditions," Journal of Macroeconomics, Elsevier, vol. 17(4), pages 703-716. [Downloadable!] (restricted)
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  11. Neuman, Shoshana & Weiss, Avi, 1995. "On the effects of schooling vintage on experience-earnings profiles: Theory and evidence," European Economic Review, Elsevier, vol. 39(5), pages 943-955, May. [Downloadable!] (restricted)
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  16. Lazear, Edward P, 1979. "Why Is There Mandatory Retirement?," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1261-84, December. [Downloadable!] (restricted)
    Other versions:
  17. Andrew Jenkins & Anna Vignoles & Alison Wolf & Fernando Galindo-Rueda, 2003. "The determinants and labour market effects of lifelong learning," Applied Economics, Taylor and Francis Journals, vol. 35(16), pages 1711-1721, November. [Downloadable!] (restricted)
  18. Romain Duval, 2003. "The Retirement Effects of Old-Age Pension and Early Retirement Schemes in OECD Countries," OECD Economics Department Working Papers 370, OECD Economics Department. [Downloadable!]
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