We propose a new microeconomic explanation for the divergent experiences of economies in forming human capital. We suggest that the positive effect of a longer life expectancy on human capital formation arises from two separate effects: a life expectancy effect and a prolonged intergenerational...

In this chapter, we analyse the effects of PAYG and funded pension systems on welfare. The debate on the choice between alternative systems focuses on their effects on savings, capital accumulation, labour supply, economic growth and inequality and the potential benefits of mixed systems in...

This paper employs a large scale overlapping generations (OLG) model with endogenous human capital formation using a Ben-Porath (1967) technology to evaluate the quantitative role of human capital adjustments for the economic consequences of demographic change. We find that endogenous human...

This study analyses the relationship between life expectancy and parental education. Based on data from the German Socio-Economic Panel Study and survival analysis models, we show that maternal education is related to children's life expectancy - even after controlling for children's own level...

This study analyses the relationship between life expectancy and parental education. It extends the previous literature that focused mostly on the relationship between individuals' own education and their life expectancy. Based on data from the German Socio-Economic Panel Study and survival...