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population as the respective reference groups for black men and white men. We find that the impact of mortality risk on schooling …This paper investigates to what extent the differences in education between black and white men can be explained by the … differences in their mortality risks. A dynamic optimal stopping-point life cycle model is examined, in which group …
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It has been argued that increased life expectancy raises the rate of return on education, causing a rise in the investment in education followed by an increase in lifetime labor supply. Empirical evidence of these relations is rather weak. Building on a lifecycle model with uncertain longevity,...
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This article studies the impact of longevity and taxation on life-cycle decisions and long run income. Individuals allocate optimally their total lifetime between education, working and retirement. They also decide at each moment how much to save or consume out of their income, and after...
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