Proposed changes in the U.S. Social Security provisions include increasing the normal retirement age from 65 to 67 and … changing from 3% to 8% the increase in benefits for each year that retirement is delayed after normal retirement. The paper … force participation, but that changes in the firm plan - like increasing the early retirement age - would have very large …

The option value model developed in an earlier paper is used to simulate the effect on retirement of changes in a firm … much greater effect than Social Security regulations on the retirement decisions of the firm's employees. The analysis … supports the following conclusions: (1) Increasing the firm's early retirement age from 55 to 60, for example, would reduce by …

consumer who can select her hours of work and also her retirement age. Using a realistically-calibrated model with stochastic … work effort by the young; and markedly enhances lifetime welfare. Also, introducing annuities leads to earlier retirement … as well as sensible retirement age patterns …

Retirees confront the difficult problem of how to manage their money in retirement so as to not outlive their funds … allocation decisions when managing her retirement financial wealth and annuities, and we prove that she can benefit from both the … equity premium and longevity insurance in her retirement portfolio. Even without bequests, she will not fully annuitize …

pensions, and Social Security profiles available at alternative retirement ages. Then we examine four specific changes in the … structure of Social Security benefits: raising the normal retirement age, delaying the cost-of-living adjustment, lowering early … retirement benefits, and increasing late retirement payments. Behavioral parameters are estimated using an ordered logit model of …

. Conventional analyses of wage profiles pool all waqe observations without distin-guishing among individuals according to retirement …

Does retirement behavior react predictably to economic incentives? Evidence on this question would be useful to policy … makers responsible for work and retirement programs affecting the elderly. This paper reviews the lessons and limitations of … recent economics literature on pensions, earnings, and retirement. Section I develops the life cycle context for analyzing …

This study examines empirically whether social security influences the retirement decisions of individuals. The …'s income and substitution effects are included in a model for examining retirement decisions. This model is based on the model … from the Social Security Administration and are particularly well suited for this study. Retirement models are estimated …