Education, lifetime labor supply, and longevity improvements
Hippolyte d'Albis
- Fonction : Auteur
- PersonId : 16845
- IdHAL : hippolyte-dalbis
- ORCID : 0000-0002-6409-4320
- IdRef : 07955279X
Résumé
This paper presents an analysis of the differential role of mortality for the optimal schooling and retirement age when the accumulation of human capital follows the so-called “Ben–Porath mechanism”. We set up a life-cycle model of consumption and labor supply at the extensive margin that allows for endogenous human capital formation. This paper makes two important contributions. First, we provide the conditions under which a decrease in mortality leads to a longer education period and an earlier retirement age. Second, those conditions are decomposed into a Ben–Porath mechanism and a lifetime-human wealth effect vs. the years-to-consume effect. Finally, using US and Swedish data for cohorts born between 1890 and 2000, we show that our model can match the empirical evidence.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
Education, lifetime labor supply, and longevity improvements
|
Résumé |
en
This paper presents an analysis of the differential role of mortality for the optimal schooling and retirement age when the accumulation of human capital follows the so-called “Ben–Porath mechanism”. We set up a life-cycle model of consumption and labor supply at the extensive margin that allows for endogenous human capital formation. This paper makes two important contributions. First, we provide the conditions under which a decrease in mortality leads to a longer education period and an earlier retirement age. Second, those conditions are decomposed into a Ben–Porath mechanism and a lifetime-human wealth effect vs. the years-to-consume effect. Finally, using US and Swedish data for cohorts born between 1890 and 2000, we show that our model can match the empirical evidence.
|
Auteur(s) |
Miguel Sanchez-Romero
1
, Hippolyte d'Albis
2, 3
, Alexia Prskawetz
4, 5
1
Wittgenstein Centre for Demography and Global Human Capital
( 495317 )
- Autriche
2
PJSE -
Paris Jourdan Sciences Economiques
( 578027 )
- 48 boulevard Jourdan 75014 Paris
- France
3
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
4
VID -
Vienna Institute of Demography
( 114199 )
- WU Campus / D5, Welthandelsplatz 2/ Ebene 2, 1020 Wien, Österreich
- Autriche
5
Institute of Mathematical Methods in Economics, Research Unit Economics
( 114198 )
- Vienna
- Italie
|
Langue du document |
Anglais
|
Nom de la revue |
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Internationale
|
Date de publication |
2016-12
|
Volume |
73
|
Page/Identifiant |
118–141
|
Domaine(s) |
|
Mots-clés |
en
education
|
DOI | 10.1016/j.jedc.2016.09.004 |
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