Longevity and Lifetime Labor Input : Data and Implications ∗
نویسنده
چکیده
The Ben-Porath (1967) model suggests that a rise in life expectancy, and the associated rise in the lifetime labor input, brings about a rise in investment in human capital. We incorporate the leisure decision into the model and develop a necessary condition regarding the lifetime labor input for the Ben-Porath mechanism to have a positive effect on investment in human capital. We show that this condition does not hold for American men born between 1840 and 1970. The data suggest similar patterns in Western Europe. JEL Classification: E20, J22, J24, J26, O11.
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