Delayed Retirement,Fertility and Endogenous Growth
The aging population has led to calls for delayed retirement.Based on the unified growth theory,this paper puts retirement,fertility rate,human capital,pension,technological progress,and economic growth into the framework of endogenous growth model,to analyze the impact of exogenous and flexible retirement models on economic growth.The study found that the increase in life expectancy has a suppression effect on fertility and economic growth,but the implementation of delayed retirement policies can offset this negative effect,and the increase in life expectancy will make the elderly willing to provide more working hours.Although delayed retirement will reduce savings,but the positive effect of delayed retirement on fertility and technological progress exceeds the negative effect of declining savings,indicating that delayed retirement is beneficial to economic growth.The fertility rate and per capita output growth rate under the flexible retirement model are higher than the corresponding values of exogenous delayed retirement,indicating that the flexible retirement model is more conducive to promoting fertility and economic growth.Therefore,it is suggested that China should implement a flexible retirement policy that allows individuals to choose their own retirement age within a certain age range,which will help promote fertility recovery and economic growth.This paper enriches the theoretical research on retirement and economic growth to a certain extent,and provides a theoretical reference for implementing flexible retirement policies.
Population agingFlexible retirementFertilityEndogenous growthTechnological progress
万方数据
维普
