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This paper presents a theoretical and empirical analysis of the role of life expectancy for optimal schooling and lifetime labor supply. The results of a simple prototype Ben-Porath model with age-specific survival rates show that an increase in lifetime labor supply is not a necessary, nor a...
Persistent link: https://www.econbiz.de/10013084661
. -- longevity ; life expectancy ; schooling ; lifetime labor supply ; rectangularization of the survival function …
Persistent link: https://www.econbiz.de/10009721323
Conventional wisdom suggests that increased life expectancy had a key role in causing a rise in investment in human capital. I incorporate the retirement decision into a version of Ben-Porath's (1967) model and find that a necessary condition for this causal relationship to hold is that...
Persistent link: https://www.econbiz.de/10014054898
The aim of this paper is to study the long-run effects of a longevity increase on individual decisions about education … wisdom following an increase in longevity, depending on the corresponding change in the age-productivity profile. …
Persistent link: https://www.econbiz.de/10010528342
The aim of this paper is to study the long-run effects of a longevity increase on individual decisions about education … wisdom following an increase in longevity, depending on the corresponding change in the age-productivity profile …
Persistent link: https://www.econbiz.de/10013021702
longevity. Health-demanding work leads to a faster accumulation of health deficits and is remunerated with a hazard markup on …
Persistent link: https://www.econbiz.de/10012820924
This article studies the impact of longevity and taxation on life-cycle decisions and long run income. Individuals … literature. In this setup increases in longevity raises the investment in education - time in school - and retirement. The model … evidence shows. Simulations show that a country equal to the U.S. but with 20% smaller longevity will be 25% poorer. In this …
Persistent link: https://www.econbiz.de/10014062339
We propose a novel framework to analyse the macroeconomic impact of noncommunicable diseases. We incorporate measures of disease prevalence into a human capital augmented production function, which enables us to determine the economic costs of chronic health conditions in terms of foregone gross...
Persistent link: https://www.econbiz.de/10011653537
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...
Persistent link: https://www.econbiz.de/10011532914
Recent scientific research indicates that there may have been an extension in physically and cognitively healthy life expectancy. We examine the effects of an extension in healthy life on retirement, education and human capital investment. We find that as life expectancy rises, the proportion of...
Persistent link: https://www.econbiz.de/10014065013