Life Expectancy, Schooling Time, Retirement, and Growth
I analyze how changes in life expectancy affect retirement age, education time, and growth rates of economies. I set up a continuous time, overlapping generations model of endogenous growth with externalities in human capital production. I find that increases in life expectancy give rise to first, higher retirement ages and second, higher education spans. A threshold level for life expectancy exists such that per capita growth rates follow an inverted U pattern. (JEL D9, E17, I29, J24) Copyright 2004, Oxford University Press.
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Volume (Year): 42 (2004)
Issue (Month): 4 (October)
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