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Long Life-span and Optimal Recurrent Education

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  • Akira Momota

    (Ritsumeikan University)

Abstract

This paper theoretically investigates the effect of increased longevity on the years of schooling and work. We consider a situation in which individuals have opportunities for recurrent education by assuming that the transition from schooling to work is reversible. We find that setting aside a period of time for recurrent education is optimal for individuals when the life-span is longer than a certain threshold number of years. As the life-span increases, the total schooling years and the retirement age increase. However, when the life-span becomes so long that recurrent education takes place, the effect of an increase in the active life by one year on the lifetime income is significantly smaller than in the situation where the life-span is less long.

Suggested Citation

  • Akira Momota, 2020. "Long Life-span and Optimal Recurrent Education," KIER Working Papers 1042, Kyoto University, Institute of Economic Research.
    • Handle: RePEc:kyo:wpaper:1042
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    File URL: http://www.kier.kyoto-u.ac.jp/DP/DP1042.pdf
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    More about this item

    Keywords

    Human capital; Life-cycle model; Longevity; Recurrent education.;
    All these keywords.

    JEL classification:

    • D15 - Microeconomics - - Household Behavior - - - Intertemporal Household Choice; Life Cycle Models and Saving
    • I29 - Health, Education, and Welfare - - Education - - - Other
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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