Shimizutani, Satoshi; Fujii, Mayu; Oshio, Takashi - Center for Intergenerational Studies, Institute of … - 2012
This study examines retirement decisions in Japan, using the option value (OV) model proposed by Stock and Wise (1990 … labor income until retirement as well as that from pension income afterwards and determines when to retire based on the OV … of postponing retirement. Using micro-level data collected from the Japanese Study on Aging and Retirement (JSTAR), we …
