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Education, lifetime labor supply, and longevity improvements.pdf

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/71179 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/71179 http://eprints.org/relation/ismediumThumbnailVersionOf https://pure.iiasa.ac.at/id/document/71179 71184 2 197294 document 71184 small.jpg image/png 8b3997c8dfc054ff41a8904f63104990 MD5 1675 2016-09-22 06:35:17 https://pure.iiasa.ac.at/id/eprint/13828/6/small.jpg 13828 6 6 image/png other Thumbnails conversion from text to thumbnail_small en staffonly

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http://eprints.org/relation/isVersionOf https://pure.iiasa.ac.at/id/document/71179 http://eprints.org/relation/isVolatileVersionOf https://pure.iiasa.ac.at/id/document/71179 http://eprints.org/relation/issmallThumbnailVersionOf https://pure.iiasa.ac.at/id/document/71179 archive 353 disk0/00/01/38/28 2016-09-22 06:33:31 2021-08-27 17:27:47 2016-09-22 06:33:31 article show Sánchez-Romero M. d'Albis H. Fürnkranz-Prskawetz A. 2025 pub prog_pop Mortality decline; Early retirement; Increasing length of schooling; Ben-Porath mechanism; Years-to-consume effect; Lifetime human wealth effect 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. 2016-12 published Elsevier doi:10.1016/j.jedc.2016.09.004 100 public Journal of Economic Dynamics and Control 73 118-141 TRUE 0165-1889 FALSE no info:eu-repo/semantics/article