retirement age response to changes in longevity from which changes in individual savings are derived. Conditions on the age … empirical studies attribute this trend to the increases in life longevity of the populations of these countries. It has been … in the population rises along with longevity. This paper examines whether these conclusions are supported by economic …

This paper examines the optimal design of pension plans when the health status during retirement is uncertain. Assuming …

. Building on a lifecycle model with uncertain longevity, this paper shows that increased life expectancy does not suffice to … warrant the above hypotheses. We provide assumptions about the change in survival probabilities, specifically about the age … dependence of hazard rates, which determine individuals’ behavioral response w.r.t. education, work and age of retirement …

We extend the seminal Rothschild and Stiglitz (1976) model on competitive insurance markets with asymmetric information … in the spirit of Wilson (1977)’s ‘anticipatory equilibrium’ by introducing an additional stage in which initial contracts … consumers obtain their respective Wilson-Miyazaki-Spence (WMS) contract. Jointly profit-making contracts can also be sustained …

rather small, whilst those of PE versus no annuities at all (NAE) are rather large. An imperfect insurance is better than no … longevity risk, agents want to annuitize their wealth conform the classic result by Yaari (1965). In the first-best case with … perfect annuities, the market would feature a separating equilibrium (SE) in which each health type obtains an actuarially …

We consider a competitive insurance market with adverse selection. Unlike the standard models, we assume that … limited liability afforded via bankruptcy laws. Government assistance is calculated ex post of any insurance benefits. This … alters the individuals’ demand for insurance coverage. In turn, this affects equilibria in various insurance models of …

. Building on a lifecycle model with uncertain longevity, this paper shows that increased life expectancy does not suffice to … warrant the above hypotheses. We provide assumptions about the change in survival probabilities, specifically about the age … dependence of hazard rates, which determine individuals' behavioral response w.r.t. education, work and age of retirement …

This paper examines the optimal design of pension plans when the health status during retirement is uncertain. Assuming …

While the effect of social security systems on retirement decisions has received much attention, the impact of these … investment and retirement decisions in a simple analytical life-cycle model with full certainty and investigate how different … contributions and benefits increase human capital investment and postpone retirement. …

The specificities of the workforce with a migrant background are often neglected in studies of retirement. Similarly … systems – with a focus on retirement. The paper argues that such effects are non‐negligible and are likely to have major …