Statutory Retirement Age and Lifelong Learning

Thomas Gries, Stefan Jungblut (), Tim Krieger and Henning Meier
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Stefan Jungblut: University of Paderborn
Henning Meier: University of Paderborn

No 9, Working Papers CIE from Paderborn University, CIE Center for International Economics

Abstract: The employability of an aging population in a world of continuous technical change is top of the political agenda. Due to endogenous human capital depreciation, the effective retirement age is often below statutory retirement age resulting in unemployment among older workers. We analyze this phenomenon in a putty-putty human capital vintage model and focus on education and the speed of human capital depreciation. Introducing a two-stage education system with initial schooling and lifelong learning, not even lifelong learning turns out to be capable of aligning economic and statutory retirement. However, lifelong learning can increase the number of people reaching statutory retirement age and hence reduce the problem of old age unemployment in an aging society.

Keywords: lifelong learning; retirement; unemployment; education system (search for similar items in EconPapers)
JEL-codes: J26 J64 O33 (search for similar items in EconPapers)
Pages: 43 pages
Date: 2009-01
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