Within a politico-economic model we first establish three hypotheses: (i) Retirees generally prefer a higher retirement … age than workers, whereby just retired individuals prefer the highest retirement age, (ii) in equilibrium the level of the … legal retirement age is increasing in longevity and (iii) decreasing in the public pension replacement rate. We then test …

In this paper, we consider how the retirement age as well as a tax financed pension system ought to respond to a change … perfect control over the individuals' labor supply and retirement-decisions, the results show that a decrease in the standard … deviation of life-length leads to an increase in the optimal retirement age and vice versa, if the preferences for 'the number …

extend to distinct PWFs in the gain and loss domains, as under prospect theory …

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 … a representative agent is divided into three distinct phases: pre-treatment, post-treatment, and retirement. Solutions … for consumption/savings, labor supply/leisure, and retirement timing are then obtained by solving the model as a salvage …

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 …

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

The traditional approach to flexible retirement (e.g. NDC) neglects the impact of asymmetric information on actuarial … a redistributive second-best benefit-retirement-age schedule. Trying to combine the two approaches, the present paper …