This paper constructs and estimates a dynamic model of the evolution of health for those over the age of 50 and then … embeds that model of health dynamics in a structural, econometric model of retirement and saving. The health model traces the … effects of smoking, obesity, alcohol consumption, depression and other proclivities on medical conditions, including …

in relation to health trends as well as recent Social Security reforms. Our preliminary conclusions are pessimistic … regarding the effect of health improvements on the labor market attachment of older workers since we show that despite the large … improvements in the mortality rates among older individuals in Spain, the employment rates of individuals older than fifty …

those who are not already age-eligible for an old-age pension and who are deemed unable to work for health reasons. In this … paper, we use two sets of individual survey data to study the role of health and financial incentives in early retirement …

We use the first wave of the Health and Retirement Survey to study the effect of health on the labor force activity of … Black and White men and women in their 50s. The evidence we present confirms the notion that health is an extremely … important determinant of early labor force exit. Our estimates suggest that health differences between Blacks and Whites can …

the worker's health. However, the many studies examining the realtionship between health and retirement have failed to … reach agreement on the relative importance of health in comparison to financial variables. Efforts to do so have been … hampered by the difficulty of correctly measuring health status. Much of the concern centers on the fear that subjective …

caused by worsening health in old age. Our model explains the long-run decline in the age of retirement as an income level … effect. We show that improvements in health and longevity tend to increase the desired retirement age, though less than … retirement) and higher consumption (lower savings) …

due to deteriorating health. Overall, the literature shows that the standard model of lifecycle consumption augmented with … home production and uncertain health shocks does well in explaining the consumption patterns of most households as they …This paper summarizes five facts that have emerged from the recent literature on consumption behavior during retirement …

drawn from the Health and Retirement Study for the United States. We use data on a person's subjective probability of …

We estimate how the marginal utility of consumption varies with health. To do so, we develop a simple model in which … the impact of health on the marginal utility of consumption can be estimated from data on permanent income, health, and … utility proxies. We estimate the model using the Health and Retirement Study's panel data on the elderly and near-elderly, and …