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...

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...

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...

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...

We develop a model of retirement and human capital investment to study the effects of tax and retirement policies. Workers choose the supply of raw labor (career length) and also the human capital embodied in their labor. Our model explains a significant fraction of the US-Europe difference in...

In this paper we analyze the consequences of pension funding in a general equilibrium model of both formal schooling decisions and on-the-job human capital formation à la Heckman, Lochner and Taber (1998). Our focus lies on the distortive and redistributive effects of a Bismarckian pension...

Over the 1948-2013 period, many factors significantly impacted on human capital, which in turn affected economic growth in the United States. This chapter analyzes these factors within a complete national income accounting system which integrates Jorgenson-Fraumeni human capital into the...

Of great importance to the future World economy is the future labor force of Asia, as Asia is by far the most populous region in the World. Expected future levels of education, very young and youth population, youth employment and unemployment, dependency rates, human capital per capita, and the...

This article documents the long-term relationship among juvenile conviction, occupation choices, employment, wages, and recidivism. Using data from NLSY97, we document that youths who are convicted at or before age 17 have lower full-time employment rate and lower wage growth rate even after 10...

Labour engagement, underutilization and unemployment has dominated discourse in development literature in developing economies. It tangentially dictates the direction of migration, gross domestic output and in some cases, youth restiveness. This study investigated the unique relationship between...