This paper investigates the relation between human capital andretirement when the age of retirement is endogenous. This relation isexamined in a life-cycle earnings model. An employee works full timeuntil retirement. The worker accumulates human capital by training-on-the-job and by...

Die Entwicklung der Bevölkerung geriet in Deutschland infolge der gegenwärtigen Finanzkrise der öffentlichen Haushalte und der Systeme sozialer Sicherung in den Focus des öffentlichen Interesses. Die in den meisten hochentwickelten Ländern sich abzeichnende Alterung und Schrumpfung der...

Employment and labor force participation (LFP) rates have increased throughout Europe since the 1990s, with little interruption from the Great Recession. While many credit labor market reforms for this progress, ongoing educational expansion might actually be more important. This implies that...

Der vorgestellte Beitrag gibt einen Überblick über die gegenwärtige Hochschulfinanzierung in Deutschland; kürzlich haben einige Bundesländer Studiengebühren eingeführt, die zu einer teilweisen Finanzierung der Studienkosten beitragen sollen. Im II. Kapitel werden außerdem kurz die...

The paper sheds some light on the education returns in Germany in the post war period. After describing higher education in Germany the current stand of higher education financing within the single states is presented. In six states tuition fees will be introduced in 2007/08 and discussions are...

This paper presents a life-cycle model with human capital investment during working life through training and provides a novel empirical test of human capital theory. We exploit a sizable pension reform across adjacent cohorts in a regression discontinuity setting and find that an increase in...

In this paper we present a life-cycle model with human capital investment during working life through training and provide a novel empirical test of human capital theory. Using a sizable pension reform which shifts the retirement age between two adjacent cohorts by three years, we document...

Economists have mainly focused on human capital accumulation, rather than on the causes and consequences of human capital depreciation in late adulthood. To investigate how human capital depreciates over the life cycle, we examine how a newly introduced pension program, the National Rural...

The aim of this paper is to study the long-run effects of a longevity increase on individual decisions about education and retirement, taking macroeconomic repercussions through endogenous factor prices and the pension system into account. We build a model of a closed economy inhabited by...

The return on investments in human and social capital increases in their economic lifetime. Thus, personal, parental, and societal investments in the capacities of individuals take place when these persons are young. Interestingly, the complementary thesis has been widely neglected; investments in...