We develop a life-cycle model of optimal retirement and savings behavior under complete markets where retirement is … proportionately, while, contrary to conventional views, reducing savings rates. The retirement age is not simply proportional to … retirement) and higher consumption (lower savings) …

, increases in longevity lead to higher savings rates at every age, even when retirement is endogenous. In a stable population … these higher savings rates are offset by increased old age dependency, but during the disequilibrium phase, when longevity … is rising, the effect on aggregate savings rates can be substantial. Our results explain the boom in savings in East Asia …

life expectancy related to observable factors such as income, gender, and health have large effects on savings, and that …

This paper investigates the local impact of biomedical research on mortality in the USA. Causally estimating the … enables research to be related to mortality at the geographic, disease and time level. We then estimate the marginal impact of … biomedical research on mortality using hospital market (HRR) level shocks to research activity by disease. Our identification …

stochastic event, age-specific mortality risks are endogenous variables, and spending on life protection is set jointly with …-specific mortality risks and implicit private values-of-life-saving (VLS) as "dual variables", and estimates them jointly. It also offers …

adult life span is about 15 years in the U.S., and theory and evidence suggest it is costly. I calibrate a utility … component due to infant mortality, has exhibited even more convergence than life expectancy. Sustained reductions in the … total economic value of gains against mortality in the U.S. prior to 1950 but only about 5 percent since …

-examination of existing empirical evidence concerning the effects of Social Security on personal savings, retirement, and the …

assumptions of full annuitization and deterministic health. Our framework can value the prevention of mortality and of illness … illness can significantly increase the value of statistical life, helping to reconcile theory with empirical findings that … add $127 billion to the value of a one percent decline in future mortality …

, we measure the welfare improvements from including LIAs in the menu of plan payout choices, accounting for mortality …. Optimal annuitization boosts welfare by 5-20% of average retirement plan accruals at age 66 (assuming average mortality rates …

A large literature following Ruhm (2000) suggests that mortality falls during recessions and rises during booms. The … of the relationship between business cycles and mortality are highly sensitive to assumptions related to migration. After … adjusting for migration, we find that mortality increased during the cotton recession, but was largely unaffected by the coal …