standard of living after retirement and thus to alleviate poverty in old age. In many developing and developed countries, the … minimum pension program is a key welfare program and a major influence on the retirement decisions of low-income workers and …-income workers to retire as soon as they become eligible for the program, which is often earlier than the normal retirement age. …

retirement, trying to reconcile them with some key Spanish retirement patterns. We find that the «average» individual, who is … at the normal retirement age. Alternatively, individuals at the bottom of the wage distribution have strong incentives to … findings perfectly accommodate the retirement hazard of medium and low earners respectively. In contrast, high earners (those …

retirement and claiming decisions in terms of the employment, wage, health, and mortality uncertainty faced by individuals. Our … Early Retirement Age, while still explaining the increased claiming hazard at the Normal Retirement Age. We also discuss … remained very high in the last years even as the early retirement penalties have increased substantially compared with previous …

In this paper we analyze the sensitivity of the labour market decisions of workers close to retirement with respect to … incentives on retirement in two ways. First, by modeling the transitions between employment, unemployment and retirement in a … simultaneous manner, paying special attention to the transition from unemployment to retirement (which is particularly important in …

In this paper, we analyze the sensitivity of the labor market decisions of workers close to retirement with respect to … incentives on retirement by jointly modeling the transitions between employment, unemployment and retirement, paying special … attention to the transition from unemployment to retirement (which is particularly important in Spain and other European …

retirement decisions. In this context, we explicitly consider the participation decision of older individuals along with their … decision to claim Social Security retirement benefits, using a sequential decision structure. We have numerically solved and … exactly at the Early Retirement Age. The model is also able to replicate the declining labor force participation at older ages …