with two retirement periods. In this framework annuity companies can offer contracts with different payoffs over the … periods of retirement. Varying the time structure of the payoffs affects annuity demand and welfare of individuals with low …

1993 and 1994. The husband is eligible for early retirement while the wife is not. The models aim at explaining labor … supply behavior of married couples the first twelve months after the husband became eligible for early retirement. Estimates …

This paper suggests that pension characteristics are simultaneously determined along with workers' retirement ages …. Both the age of pension eligibility and actual retirement age are determined by the productivity and marginal disutility of … retirement that treat pensions as exogenous, implying that prior empirical work may have overestimated the responsiveness of …

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. …

change in US pension law (the Retirement Equity Act of 1984) is used as an instrument to derive predictions both from a …

retirement. In order to introduce the existence of limited-time pension insurance, we assume that for each period of retirement …

emergence of supplemental individual retirement programs. Making the balanced-budget rule (of the type of the Stability and …