Impact of mortality reductions on years of schooling and expected lifetime labor supply |
| |
| Institution: | 1. Department of Economics, Mount Allison University, 144 Main Street, Sackville, NB E4L 1A7, Canada;2. Department of Economics, Vanderbilt University, VU Station B #351819, 2301 Vanderbilt Place, Nashville, TN 37235-1819, USA;1. Washington University in St. Louis, United States;2. MIT, United States;1. CentER, Department of Econometrics and Operations Research, Tilburg University, PO Box 90153, 5000 LE Tilburg, The Netherlands;2. Faculty of Economics and Business, University of Amsterdam, Roetersstraat 11, 1018 WB Amsterdam, The Netherlands;3. Netspar, CentER, Department of Econometrics and Operations Research and Department of Finance, Tilburg University, PO Box 90153, 5000 LE Tilburg, The Netherlands;1. Department of Economics and Management, Université de Cergy-Pontoise & THEMA,Cergy-Pontoise, 95011, France;2. Department of Economics, University of Georgia, Athens, GA, 30602, USA;1. Center for Mathematical Economics, Bielefeld University, Germany;2. Faculty of Economic and Financial Sciences, University of Johannesburg, South Africa |
| |
| Abstract: | Hazan (2009) performs empirical analysis based on the conjecture that a necessary condition for mortality decline to cause longer years of schooling is that it also increases expected lifetime labor supply, and reaches controversial conclusions. We aim to examine the theoretical validity of Hazan’s (2009) conjecture, and more generally, to understand the relation between these two conditions in a standard life-cycle model. We find that the relation between the effects on optimal years of schooling and expected lifetime labor supply differs systematically with respect to mortality reductions at different stages of the life cycle. Based on these systematic differences, we find that longer lifetime labor supply is not sufficient for increased years of schooling for all mortality reductions occurring during the schooling phase, and not necessary for increased years of schooling for some mortality reductions during the working phase. |
| |
| Keywords: | Mortality reductions Years of schooling Lifetime labor supply Longer-horizon mechanism |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
