Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/213432
Authors: 
Kuhn, Michael
Prettner, Klaus
Year of Publication: 
2020
Series/Report no.: 
GLO Discussion Paper 462
Abstract: 
We assess the long-run growth effects of rising longevity and increasing the retirement age when growth is driven by purposeful research and development. In contrast to economies in which growth depends on learning-by-doing spillovers, raising the retirement age fosters economic growth. How economic growth changes in response to rising life expectancy depends on the retirement response. Employing numerical analysis we find that the requirement for experiencing a growth stimulus from rising longevity is fulfilled for the United States, nearly met for the average OECD economy, but missed by the EU and by Japan.
Subjects: 
Demographic Change
Rising Life Expectancy
Pension Reforms
Long-Run Economic Growth
R&D
Innovation
JEL: 
J10
J26
O30
O41
Document Type: 
Working Paper

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