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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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Hohenheim discussion papers in business, economics and social sciences; 2020,02
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Faculty of Business, Economics and Social Sciences
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Institute of Economics
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English
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330 Economics
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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},
}