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Long lifespan and optimal recurrent education
Author(s) -
Momota Akira
Publication year - 2022
Publication title -
canadian journal of economics/revue canadienne d'économique
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.773
H-Index - 69
eISSN - 1540-5982
pISSN - 0008-4085
DOI - 10.1111/caje.12597
Subject(s) - longevity , demographic economics , economics , work (physics) , demography , gerontology , medicine , sociology , physics , thermodynamics
This paper theoretically investigates the effect of increased longevity on years of schooling and work. I consider a situation in which individuals have opportunities for recurrent education by assuming that the transition from schooling to work is reversible. I find that setting aside a period of time for recurrent education is optimal for individuals when the lifespan is longer than a certain threshold number of years. When the lifespan is longer than the threshold, as the lifespan increases, both the total schooling years and the working years increase and the lifetime income increases. However, the marginal effect of a rise in lifespan on the lifetime income decreases significantly when recurrent education occurs.