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Demographic change and transformations of the active life cycle: what relations?

Author

Listed:
  • D. BLANCHET

    (Insee)

  • F. TOUTLEMONDE

    (Insee)

Abstract

Historical changes in the typical life-cycle do not conform to a simple model of equal-sharing in which additional years of life are equally distributed between time devoted to training, work and leisure. We have instead observed a quasi-general decline in the share of our life-cycles that is devoted to labour. The major reason for such a deviation is the fact that this life-cycle evolves in response to other factors, such as productivity, preferences and conditions for the accumulation and depreciation of human capital. We investigate the articulation of these different factors in a continuous-time model of life-cycle optimisation that allows a realistic treatment of demographic structure. The main motives for the contraction of working lives are global productivity and the importance of human capital depreciation. We show that the equal-sharing scenario requires a parallel evolution of productivity and consumption norms, and a slowing-down of human capital depreciation that is consistent with the change in life expectancy.

Suggested Citation

  • D. Blanchet & F. Toutlemonde, 2008. "Demographic change and transformations of the active life cycle: what relations?," Documents de Travail de l'Insee - INSEE Working Papers g2008-05, Institut National de la Statistique et des Etudes Economiques.
    • Handle: RePEc:nse:doctra:g2008-05
    as

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    File URL: https://www.bnsp.insee.fr/ark:/12148/bc6p06zr00j/f1.pdf
    File Function: Document de travail de la DESE numéro G2008/05
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    More about this item

    Keywords

    Ageing; life-cycle; training; retirement age;
    All these keywords.

    JEL classification:

    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • 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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