The Impact of a Lower School Leaving Age and a Later Retirement on the Financing of the Norwegian Public Pension System

Skirbekk V (2005). The Impact of a Lower School Leaving Age and a Later Retirement on the Financing of the Norwegian Public Pension System. Document 2005/1, Statistics Norway, Oslo (February 2005)

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Abstract

We analyse how an extended working life could affect the sustainability of the Norwegian public pension system. Particular emphasis is given to a younger school leaving age. The school reform investigated lowers the school leaving age by two years, one by compressing primary and secondary schooling and another by lowering the school entrance age. Graduating at a younger age shifts the timing of subsequent events in adulthood toward younger ages. Individuals enter the workforce earlier, initiate childbearing at a younger age and cohort fertility may increase. This is achieved with minimal losses to human capital: Swiss and Swedish evidence suggest that such variation in the length of schooling and in the school entrance age have negligible effects on adult productivity. Using a large scale, micro-based dynamic model for the Norwegian public pension system, MOSART, we find that the school reform can play a substantial role in increasing the sustainability of public pension systems.

Item Type: Other
Research Programs: World Population (POP)
Bibliographic Reference: Document 2005/1, Statistics Norway, Oslo (February 2005)
Depositing User: IIASA Import
Date Deposited: 15 Jan 2016 02:18
Last Modified: 17 Feb 2016 12:28
URI: http://pure.iiasa.ac.at/7713

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