KLEMS database. I distinguish between three types of capital: information and communication technologies (ICT), intellectual … property (IP) capital, and traditional capital. I assume that the aggregate output is produced using labor and these three … types of capital and allow for differences in the elasticities of substitution between labor, an aggregate of ICT and IP …

concave redistribution may or may not be reversed. With couples only, the ranking of gender retirement ages is always reversed … singles only this implies distortions of retirement decision and restricts redistribution across genders. With couples, a … first best that implies a lower retirement age for females can be implemented by a gender-neutral system. Otherwise, gender …

cycle labor supply, retirement timing, and savings. I develop a structural model in continuous time where the life-cycle of … for consumption/savings, labor supply/leisure, and retirement timing are then obtained by solving the model as a salvage … a representative agent is divided into three distinct phases: pre-treatment, post-treatment, and retirement. Solutions …

increasing the standard and early retirement ages in a discretionary, scheduled, or automatic way, and by making it harder for … people to retire prematurely. To this end, countries have adopted alternative retirement age strategies, but our analyses … methods that underestimate life expectancy. This paper discusses how to implement automatic indexation of the retirement age …

longer and birth rates have declined. Postponing the full retirement age (FRA), when retirees are entitled to full pension …-FRA period. In a two-period two-sector overlapping generations model, I show that this shift lowers savings (because a part of … state, capital is decumulated and the wage rate falls. Contrast this with a reduction of the payroll tax rate where the …

The labor market effects of pension reform stem from retirement behavior and from job search and hours worked of prime …

voluntary federal government employee retirement savings vehicle called the Thrift Savings Plan. The G-Fund is managed as …

uninsured capital income risk, and suffer from an information-processing capacity constraint. For given attention devoted to … capital income risk, we solve for the optimal consumption-saving choices and show that the expected welfare is increasing with … households would pay more attention to capital income risk if they have (i) lower initial wealth endowment, (ii) lower marginal …

We study optimal savings in continuous time with exogenous transitions between employment and unemployment as the only …