Statutory Retirement Age and Lifelong Learning
AbstractThe employability of an aging population in a world of continuous technical change is top of the political agenda. Due to endogenous human capital depreciation, the effective retirement age is often below statutory retirement age resulting in unemployment among older workers. We analyze this phenomenon in a putty-putty human capital vintage model and focus on education and the speed of human capital depreciation. Introducing a two-stage education system with initial schooling and lifelong learning, not even lifelong learning turns out to be capable of aligning economic and statutory retirement. However, lifelong learning can increase the number of people reaching statutory retirement age and hence reduce the problem of old age unemployment in an aging society.
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Bibliographic InfoPaper provided by University of Paderborn, CIE Center for International Economics in its series Working Papers with number 9.
Length: 43 pages
Date of creation: Jan 2009
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More information through EDIRC
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; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search
This paper has been announced in the following NEP Reports:
- NEP-AGE-2008-05-17 (Economics of Ageing)
- NEP-ALL-2008-05-17 (All new papers)
- NEP-EDU-2008-05-17 (Education)
- NEP-HRM-2008-05-17 (Human Capital & Human Resource Management)
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