This paper explores the effect of letting individuals choose their retirement age in a world of uncertainty where there … finds that it is preferable to let people make their retirement decision after rather than before the uncertainty is lifted …

observed trend towards early retirement. In a world of laissez-faire or of first-best efficiency, there would be no such … variables are not observable, the optimal policy does imply a distortion of the retirement decision. Consequently, the … inducement of early retirement may be part of the optimal tax-transfer policy. We consider a model in which individuals differ in …

observed trend towards early retirement. In a world of laissez-faire or of first-best efficiency, there would be no such … variables are not observable, the optimal policy does imply a distortion of the retirement decision. Consequently, the … inducement of early retirement may be part of the optimal tax-transfer policy. We consider a model in which individuals differ in …

observed trend towards early retirement. In a world of laissez-faire or of first-best efficiency, there would be no such … variables are not observable, the optimal policy does imply a distortion of the retirement decision. Consequently, the … inducement of early retirement may be part of the optimal tax-transfer policy. We consider a model in which individuals differ in …

The contrasting trends toward earlier retirement and greater longevity have resulted in steadily increasing retirement … costs over the last forty years. One important factor influencing early retirement decisions is the expansion of retirement … benefits; but studies predict that most countries, particularly those with early retirement incentives, will be unable to meet …