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 …

Social insurance for the elderly is judged responsible for the widely observed trend towards early retirement. In a … distortion on the retirement decision. The main point we make is that while there is no doubt that retirement systems induce an … excessive bias towards early retirement in many countries, a complete elimination of this bias (i.e. a switch to an actuarially …

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 …