File Download
There are no files associated with this item.
Links for fulltext
(May Require Subscription)
- Publisher Website: 10.1017/dem.2020.33
- WOS: WOS:000757084700001
Supplementary
-
Citations:
- Web of Science: 0
- Appears in Collections:
Article: Mortality Decline, Productivity Increase, and Positive Feedback between Schooling and Retirement Choices
Title | Mortality Decline, Productivity Increase, and Positive Feedback between Schooling and Retirement Choices |
---|---|
Authors | |
Issue Date | 2021 |
Citation | Journal of Demographic Economics, 2021, v. 88 n. 1, p. 121-156 How to Cite? |
Abstract | The twentieth century has seen a phenomenal decline in mortality and an increase in productivity level. These two important events likely affect people's choices of schooling years and retirement age. We first show that in a standard life-cycle model, positive feedback exists between optimal schooling years and retirement age choices. We then evaluate the impact of a mortality or productivity shock on an endogenous variable (schooling years or retirement age) by decomposing it into the direct and indirect effects, where the indirect effect arises from feedback from the other endogenous variable. Finally, we extend the model by including the utility benefit of schooling and show that a negative correlation of schooling years and retirement age is possible. Apart from clarifying the apparently similar concepts of positive co-movement and positive feedback, our results have implications relevant to the economic demography literature. |
Persistent Identifier | http://hdl.handle.net/10722/311808 |
ISI Accession Number ID | |
Grants |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Cai, Z | - |
dc.contributor.author | Lau, SH | - |
dc.contributor.author | Yuen, CYK | - |
dc.date.accessioned | 2022-04-01T09:13:28Z | - |
dc.date.available | 2022-04-01T09:13:28Z | - |
dc.date.issued | 2021 | - |
dc.identifier.citation | Journal of Demographic Economics, 2021, v. 88 n. 1, p. 121-156 | - |
dc.identifier.uri | http://hdl.handle.net/10722/311808 | - |
dc.description.abstract | The twentieth century has seen a phenomenal decline in mortality and an increase in productivity level. These two important events likely affect people's choices of schooling years and retirement age. We first show that in a standard life-cycle model, positive feedback exists between optimal schooling years and retirement age choices. We then evaluate the impact of a mortality or productivity shock on an endogenous variable (schooling years or retirement age) by decomposing it into the direct and indirect effects, where the indirect effect arises from feedback from the other endogenous variable. Finally, we extend the model by including the utility benefit of schooling and show that a negative correlation of schooling years and retirement age is possible. Apart from clarifying the apparently similar concepts of positive co-movement and positive feedback, our results have implications relevant to the economic demography literature. | - |
dc.language | eng | - |
dc.relation.ispartof | Journal of Demographic Economics | - |
dc.title | Mortality Decline, Productivity Increase, and Positive Feedback between Schooling and Retirement Choices | - |
dc.type | Article | - |
dc.identifier.email | Lau, SH: laushp@hku.hk | - |
dc.identifier.authority | Lau, SH=rp01073 | - |
dc.identifier.doi | 10.1017/dem.2020.33 | - |
dc.identifier.hkuros | 332268 | - |
dc.identifier.volume | 88 | - |
dc.identifier.issue | 1 | - |
dc.identifier.spage | 121 | - |
dc.identifier.epage | 156 | - |
dc.identifier.isi | WOS:000757084700001 | - |
dc.relation.project | Effects of mortality decline on life-cycle variables: A state-dependent approach | - |