Adult education may keep older workers productive if they voluntarily engage in learning. Examining a generous partial retirement reform in Germany that encouraged early retirement among male workers, we estimate voluntary adult education activities for early retirees. Using county-level administrative data on all public adult education centers (Volkshochschulen; VHS), we employ a difference-in-differences approach exploiting the predetermined county-specific age structure of men for identification. The results show a strong increase in participation in adult education, specifically in cognitively demanding courses. This supports an intrinsic willingness of older workers to acquire skills and abilities independent of financial incentives.
For the full article please go to: No mental retirement: estimating voluntary adult education activities of older workers.
