retirement and claiming decisions in terms of the employment, wage, health, and mortality uncertainty faced by individuals. Our … Early Retirement Age, while still explaining the increased claiming hazard at the Normal Retirement Age. We also discuss … remained very high in the last years even as the early retirement penalties have increased substantially compared with previous …

In this paper we analyze the sensitivity of the labour market decisions of workers close to retirement with respect to … incentives on retirement in two ways. First, by modeling the transitions between employment, unemployment and retirement in a … simultaneous manner, paying special attention to the transition from unemployment to retirement (which is particularly important in …

retirement decisions. In this context, we explicitly consider the participation decision of older individuals along with their … decision to claim Social Security retirement benefits, using a sequential decision structure. We have numerically solved and … exactly at the Early Retirement Age. The model is also able to replicate the declining labor force participation at older ages …

, to stay in the workforce longer when having elderly dependents in the household, and to postpone retirement …

programs with retirement incentives are larger and that the old are more "single-minded" in their politics, implications which … show that the forced savings programs intended to "reform" the social security system may increase the amount of …

of social security include the "SS as welfare for the elderly" the "retirement increases productivity to optimally manage … human capital externalities", "optimal retirement insurance", the "prodigal father problem", the "misguided Keynesian", the … the typical pay-as-you-go system with a forced savings plan. Most of the explanations suggest that forced savings does not …

with a forced savings plan. …

In this paper we explore the effects of the minimum pension program on welfare and retirement in Spain. This is done … by the minimum pension in aggregate retirement patterns. The impact is substantial: there is threefold increase in … retirement at 60 (the age of first entitlement) with respect to the economy without minimum pensions, and total early retirement …

world: (1) they redistribute income from young to old and (2) they induce retirement. We construct a voting model that … transfers from the government (paid by the young) and distortionary labor income taxes induce the retirement of the elderly. In …