{"title":"退休年龄对劳动生产率的影响:一个宏观经济学视角","authors":"Kazushige Matsuda","doi":"10.2139/ssrn.3909002","DOIUrl":null,"url":null,"abstract":"In developed economies, the population is aging and social security expenditure is projected to increase. This paper examines the effect of increasing the retirement age at which people start receiving pension on human capital investment and labor productivity. I build a quantitative overlapping-generations model with endogenous human capital investment in the Ben-Porath style. I find that increasing the retirement age increases human capital investment and labor productivity. People work for longer years until the new retirement age, and thus they invest more in human capital while young. Increasing the retirement age by 2 years leads to a welfare improvement of 1.2%.","PeriodicalId":360236,"journal":{"name":"Political Economy: Government Expenditures & Related Policies eJournal","volume":"45 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2021-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"The Effect of Retirement Age on Labor Productivity: A Macroeconomic Approach\",\"authors\":\"Kazushige Matsuda\",\"doi\":\"10.2139/ssrn.3909002\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"In developed economies, the population is aging and social security expenditure is projected to increase. This paper examines the effect of increasing the retirement age at which people start receiving pension on human capital investment and labor productivity. I build a quantitative overlapping-generations model with endogenous human capital investment in the Ben-Porath style. I find that increasing the retirement age increases human capital investment and labor productivity. People work for longer years until the new retirement age, and thus they invest more in human capital while young. Increasing the retirement age by 2 years leads to a welfare improvement of 1.2%.\",\"PeriodicalId\":360236,\"journal\":{\"name\":\"Political Economy: Government Expenditures & Related Policies eJournal\",\"volume\":\"45 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2021-08-21\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Political Economy: Government Expenditures & Related Policies eJournal\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.2139/ssrn.3909002\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Political Economy: Government Expenditures & Related Policies eJournal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3909002","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
The Effect of Retirement Age on Labor Productivity: A Macroeconomic Approach
In developed economies, the population is aging and social security expenditure is projected to increase. This paper examines the effect of increasing the retirement age at which people start receiving pension on human capital investment and labor productivity. I build a quantitative overlapping-generations model with endogenous human capital investment in the Ben-Porath style. I find that increasing the retirement age increases human capital investment and labor productivity. People work for longer years until the new retirement age, and thus they invest more in human capital while young. Increasing the retirement age by 2 years leads to a welfare improvement of 1.2%.
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