Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/148599
Authors: 
Kuhn, Michael
Prettner, Klaus
Year of Publication: 
2016
Series/Report no.: 
ECON WPS - Vienna University of Technology Working Papers in Economic Theory and Policy 10/2016
Abstract: 
We show that the long-run economic growth effect of an increase in the retirement age is unambiguously positive in research and development based endogenous growth models. This contrasts recent findings based on models of learning-by-doing-spillovers, in which an increase in the retirement age reduces physical capital accumulation and thereby economic growth. Our results imply that models based on learning-by-doing-spillovers, which are often used as a short-cut formulation for research and development based growth models, do not necessarily lead to similar policy conclusions.
Subjects: 
demographic change
pension reform
long-run economic growth
R&D-based growth
JEL: 
J10
J26
O30
O41
Document Type: 
Working Paper

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