Arbeitspapier
Rising longevity, increasing the retirement age, and the consequences for knowledge-based long-run growth
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.
- Language
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Englisch
- Bibliographic citation
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Series: Hohenheim Discussion Papers in Business, Economics and Social Sciences ; No. 02-2020
- Classification
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Wirtschaft
Demographic Economics: General
Retirement; Retirement Policies
Innovation; Research and Development; Technological Change; Intellectual Property Rights: General
One, Two, and Multisector Growth Models
- Subject
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Demographic Change
Rising Life Expectancy
Pension Reforms
Long-Run Economic Growth
R&D
Innovation
- Event
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Geistige Schöpfung
- (who)
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Kuhn, Michael
Prettner, Klaus
- Event
-
Veröffentlichung
- (who)
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Universität Hohenheim, Fakultät Wirtschafts- und Sozialwissenschaften
- (where)
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Stuttgart
- (when)
-
2020
- Handle
- URN
-
urn:nbn:de:bsz:100-opus-17407
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Kuhn, Michael
- Prettner, Klaus
- Universität Hohenheim, Fakultät Wirtschafts- und Sozialwissenschaften
Time of origin
- 2020
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On the long-run growth effect of raising the retirement age
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Relative consumption, relative wealth, and long-run growth: When and why is the standard analysis prone to erroneous conclusions?
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