We examine the role of changing mortality in explaining the rise of retirement over the course of the 20th century. We … construct a model in which individuals make labor/leisure choices over their lifetimes subject to uncertainty about their date … of death. In an environment in which mortality is high, an individual who saved up for retirement would face a high risk …

continue to work beyond a certain age by reducing the present discounted value of future retirement benefits. In discussions on … the effectiveness of policies aimed at eliminating this age-dependency in worker retirement decisions, it is often assumed ….S. pension scheme, that discounting plays a crucial role, since the formula for the present discounted value of future retirement …

biographies through sabbaticals, smoothing into early retirement, educational leave, palliative leave, part-time jobs or temporary … unpaid work and leisure in different ways over the life course. In the second part, we discuss the potential of distinct LCP …