-As-You-Go (PAYG) social security, and the mix ofPAYG and savings for retirement provision in a small open economy. It shows that … above the expected growth rate of the economy and when thegovernment has a lifetime perspective of the risk exposure. The …

This paper focuses on the relation between worker's productivity and retirement decision. Assuming that productivity … worker buys an insurance, which gives a constant income and retirement benefits in exchange for the total output. The level … of income and benefits is set to maximize lifetime utility. In such framework we find the retirement threshold of …

We explore the feasibility of a funded pension system with intergenerational risk sharing when participation in the … increases with risk aversion and financial market uncertainty. We find that it is likely that mandatory participation is … necessary to sustain a funded pension pillar and to let participants benefit from intergenerational risk sharing. …

This paper examines the optimal allocation of risk across generations whose savings mix is subject to illiquidity in … allocation decision for retirement, and show that illiquidity reduces the range of transferable shocks between generations and … thus lowers the benefits of risk-sharing. Higher illiquidity then may justify higher levels of risk sharing to compensate …

This study exploits a new dataset in order to quantify the effect of financial incentives on retirement choices. This … Wise (2004), we find that financial incentives have an effect on retirement. The effect goes in the expected direction … their retirement probability increases in a sizable way. We also find that the procedure to impute seniority used in …

incentives matter for the retirement behavior of the self-employed. We also provide evidence of the self-employed not wanting to … retire as early as possible, and contrast these expectation data with realized retirement transitions. The overall picture …

This study explored the psychological mechanisms that underlie the retirement planning and saving tendencies of Dutch … analysis models to identify the mechanisms that underlie perceived financial preparedness for retirement. Findings revealed … psychological and retirement planning constructs, but also in the robustness of the path models. These findings suggest that policy …

the effect of the reform on the savings and retirement expectations and realizations of two virtually identical male …. We show that retirement expectations are in line with realizations and that the reform increased the labor supply for the …

We estimate the impact of health and financial incentives on the retirement transitions of older workers in Spain … derived as changes in a composite health stock measure over time. We examine labour market exits into both old age retirement … and a broader definition of retirement including inactivity, while controlling for unobserved heterogeneity. We find that …