Life Expectancy, Schooling Time, Retirement, and Growth |
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| Authors: | Cruz A Echevarría |
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| Institution: | Echevarría:;Associate Professor, Basque Country University, Avda. Lehendakari Aguirre 83, Bilbao 48015, Spain. Phone 34–94–6013775, Fax 34–94–6013774, E-mail |
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| Abstract: | I analyze how changes in life expectancy affect retirement age, education time, and growth rates of economies. I set up a continuous time, overlapping generations model of endogenous growth with externalities in human capital production. I find that increases in life expectancy give rise to first, higher retirement ages and second, higher education spans. A threshold level for life expectancy exists such that per capita growth rates follow an inverted U pattern. |
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