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Economic Retirement Age and Lifelong Learning: A Theoretical Model With Heterogeneous Labor, Biased Technical Change and International Sourcing

Author

Listed:
  • Thomas Gries
  • Stefan Jungblut
  • Tim Krieger
  • Henning Meyer

Abstract

The employability of an aging population in a world of continuous and biased 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 permanent non‐employability of 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, well‐designed education programs will keep more workers in highly productive activities at the end of their working life, and hence will substitute for simple social transfers, or for an early switch towards very low paid jobs.

Suggested Citation

  • Thomas Gries & Stefan Jungblut & Tim Krieger & Henning Meyer, 2019. "Economic Retirement Age and Lifelong Learning: A Theoretical Model With Heterogeneous Labor, Biased Technical Change and International Sourcing," German Economic Review, Verein für Socialpolitik, vol. 20(2), pages 129-170, May.
    • Handle: RePEc:bla:germec:v:20:y:2019:i:2:p:129-170
    DOI: 10.1111/geer.12140
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    Cited by:

    1. Peter J. Stauvermann & Ronald R. Kumar, 2018. "Adult Learning, Economic Growth and the Distribution of Income," Economies, MDPI, vol. 6(1), pages 1-12, February.
    2. Elena Vitalyevna Vasilyeva & Alexander Nikolaevich Tyrsin, 2021. "Age Differentiation in Wages in the Russian Labor Market: Identification of the Causes," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 3, pages 103-132.
    3. Yuxuan Xu & Jie Lyu & Ying Xue & Hongbin Liu, 2022. "Does the Agricultural Productive Service Embedded Affect Farmers’ Family Economic Welfare Enhancement? An Empirical Analysis in Black Soil Region in China," Agriculture, MDPI, vol. 12(11), pages 1-22, November.

    More about this item

    JEL classification:

    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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