This paper develops a general equilibrium life-cycle model with endogenous retirement and disability risk, in order to … analysis focus on the increase in the normal retirement age (NRA) from age 65 to 67 (Reform 2007) and the recent increase in … early retirement benefits in the future. …

This paper explores a lifecycle model of labor supply and endogenous retirement behavior for households whose planning … on the degree of productivity changes in view. With the model, the endogenous retirement timing---the moment at which the … supply and retirement behaviors without a borrowing constraint commonly found in models of leisure …