This paper estimates a structural model of family retirement using U.S. data from the Health and Retirement Study (HRS … descriptions. We find that a measure of how much each spouse values being able to spend time in retirement with the other accounts … for a good portion of the apparent interdependence of the retirement decisions of husbands and wives. When we include this …

This paper explains four methods of "price indexing" initial Social Security retirement benefits, and discusses the …

This paper examines retirement and related behavioral responses to policies that on average are actuarially neutral …. Many conventional models predict that actuarially neutral policies will not affect retirement behavior. In contrast, our … rewards does not balance the loss from foregone current benefits. Using data from the Health and Retirement Study, we find …

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 …

In 1980, Chile dramatically reformed its retirement system, replacing what was an old insolvent PAYGO program with a … Chilean model is being re-assessed, in terms of coverage, contribution, investment, and retirement benefit outcomes. This …

A funded social security retirement program would imply a larger capital stock and a higher level of real income than …

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 …

A critical question for Social Security policy is how program incentives affect retirement behavior. We use the wealth … of new data available through the Health and Retirement Survey (HRS) to examine the impact of Social Security incentives … on male retirement. We implement forward-looking models of retirement whereby individuals consider not just the …

This paper evaluates potential responses to reductions in early Social Security retirement benefits. Using the Health … and Retirement Study (HRS) linked to administrative records, we find that Social Security coverage is quite uneven in the … early appear quite similar initially to those who later filed for normal retirement benefits, but both groups were healthier …