We study the effects of an annuity market imperfection on individual agents' labour supply and retirement decisions and …

In this paper, we consider how the hours of work and retirement age ought to respond to a change in the uncertainty of … 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 a decrease in the hours of work per period spent working. This result …

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 …

İmrohoroğlu, İmrohoroğlu and Joines [1995, A life-cycle analysis of Social Security, Economic Theory, vol. 6, 83 …

The present paper studies the growth and efficiency consequences of pension funding with individual retirement accounts … retirement plans. Three major findings are derived in our study: First, we quantify the commitment effect of social security for …

of leaving to early retirement. The wage is not affected …

advocated policy response is to increase retirement age. Ironically, however, the political support for this policy may actually …) from pension reforms referenda, we show in fact that individuals close to retirement tend to oppose policies that postpone … retirement, whereas young and elderly individuals are more favorable. The current process of population aging, and the associated …

How can retirement savings be increased? We explore a unique policy change in the context of the German pension system … these letters on the behavior of individuals. We find an increase in tax-deductible private retirement savings and provide …