Long lifespan and optimal recurrent education

Abstract

T his paper theoretically investigates the effect of increased longevity on the years of schooling and work . \i\Te consider a situation in which individuals have opportunities for recur rent education by assuming that the transition from schooling to work is reversible. \Ve find that setting aside a period of time for recurrent education is optimal for individuals when the life-span is longer than a certain threshold number of years . As the life-span increases, the total schooling years and t he retirement age increase. However, when the life-span becomes so long that recurrent education takes place . the effect of an increase in the active life by one year on the lifetime income is significantly smaller than in the situation where the life-span is less long . JEL C lassificat ion o.: D15 , 129. J 24, J26 K eywords : Human capital. Life-cycle model, Longevity, Recurrent education. •college of Economics , Ritsumeikan Uninrsity, 1-1-1, Noji Higashi , Kusatsu, Shiga 525-8577, Japan (E-mail: momoakir 123@yahoo.co.jp)