for consumption and the hours of time supplied to the labour market, they also choose their schooling level and retirement …

endogenous retirement. Labor taxation distorts not only labor supply, but also education and retirement decisions. Actuarially … unfair pensions further exacerbate labor tax distortions on retirement. Education subsidies can nevertheless cushion the … adverse impact of taxation on skill formation. Feedbacks between education, labor supply, and retirement are important. The …

to demographic ageing and per-capita growth to accelerate. If the retirement age were held constant, the growth rate in …-capita growth. The OLG model captures direct effects, working through adjustments in the savings rate, labor supply, and capital … deepening, and indirect effects, working through changes of taxes, government spending components and the retirement age in …

mortality process. Individual agents choose their optimal retirement age, taking into account the time - and age profiles of … wages, taxes, and the public pension system. The early retirement provision in most pension systems acts as a trap, inducing … most workers to retire well before the normal retirement age. Simulations show that pension reform must be drastic for it …

to the aging of the US population; however, lower productivity growth would result in higher optimal pension payments. In …

for consumption and the hours of time supplied to the labour market, they also choose their schooling level and retirement …

We study the effects of an annuity market imperfection on individual agents’ labour supply and retirement decisions and … on the macroeconomic growth rate in an overlapping generations model with endogenous growth. We model imperfect annuities … repercussion is that economic growth is lower under imperfect annuities than with perfect annuities. …