Statutory Retirement Age and Lifelong Learning

41 Pages Posted: 15 May 2008 Last revised: 19 Jan 2009

See all articles by Tim Krieger

Tim Krieger

University of Freiburg - Department of Economics

Thomas Gries

University of Paderborn

Stefan Jungblut

University of Paderborn

Henning Meyer

University of Paderborn

Date Written: January 16, 2009

Abstract

As societies age, pension reforms become a central issue. One proposition is to extend worklife. However, due to the endogenous depreciation of human capital in many countries the effective retirement age is even below the present statutory retirement age. We analyze this effect in a putty-putty human capital vintage model where the economic retirement age is endogenous. While a higher rate of technical progress will shorten working life, effects of international competition and outsourcing are determined by the terms of trade. As education is expected to solve the problem of too rapidly depreciating human capital we introduce a two stage education system with initial schooling and lifelong learning. However, not even lifelong learning is able to align the economic with the statutory retirement.

Keywords: lifelong learning, retirement, unemployment, education system

JEL Classification: J26, O33, J64

Suggested Citation

Krieger, Tim and Gries, Thomas and Jungblut, Stefan and Meyer, Henning, Statutory Retirement Age and Lifelong Learning (January 16, 2009). Available at SSRN: https://ssrn.com/abstract=1133447 or http://dx.doi.org/10.2139/ssrn.1133447

Tim Krieger (Contact Author)

University of Freiburg - Department of Economics ( email )

University of Freiburg
Wilhelmstr. 1b
Freiburg, D-79085
Germany

HOME PAGE: http://www.wguth.uni-freiburg.de

Thomas Gries

University of Paderborn ( email )

Warburger St. 100
Paderborn, D-33098
Germany

Stefan Jungblut

University of Paderborn ( email )

Warburger St. 100
Paderborn, D-33098
Germany

Henning Meyer

University of Paderborn ( email )

Warburger Str. 100
Paderborn, D-33098
Germany

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