Longer working lives improve the sustainability of the welfare state and the public pension system, have positive externalities on the employment and productivity of young workers, and enhance cognitive functioning.
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Equal educational opportunity and the development of human capital are two of the main keys to economic progress and social welfare — if not the most important. In the face of the digital disruption that is underway, knowledge, skills and competences of the population are also essential.
This working paper reviews the available cross-country data on skill levels and educational quality and analyzes their distribution across OECD countries and their strengths and limitations in comparison to years of schooling.