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ResearchPaper
2020
Rising longevity, increasing the retirement age, and the consequences for knowledge-based long-run growth
Rising longevity, increasing the retirement age, and the consequences for knowledge-based long-run growth
Abstract (English)
We assess the long-run growth effects of rising longevity and increasing the retirement age when growth is driven by purposeful research and development. In contrast to economies in which growth depends on learning-by-doing spillovers, raising the retirement age fosters economic growth. How economic growth changes in response to rising life expectancy depends on the retirement response. Employing numerical analysis we find that the requirement for experiencing a growth stimulus from rising longevity is fulfilled for the United States, nearly met for the average OECD economy, but missed by the EU and by Japan.
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Publication license
Publication series
Hohenheim discussion papers in business, economics and social sciences; 2020,02
Published in
Faculty
Faculty of Business, Economics and Social Sciences
Institute
Institute of Economics
Examination date
Supervisor
Edition / version
Citation
Identification
DOI
ISSN
ISBN
Language
English
Publisher
Publisher place
Classification (DDC)
330 Economics
Original object
Standardized keywords (GND)
Sustainable Development Goals
BibTeX
@techreport{Prettner2020,
url = {https://hohpublica.uni-hohenheim.de/handle/123456789/6492},
author = {Prettner, Klaus and Kuhn, Michael},
title = {Rising longevity, increasing the retirement age, and the consequences for knowledge-based long-run growth},
year = {2020},
school = {Universität Hohenheim},
series = {Hohenheim discussion papers in business, economics and social sciences},
}