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health and retirement estimated on the Norwegian labour market data. The paper focuses on the two main elements of the reform … drawing rules designed to eliminate the incentives distortions with respect to the time of retirement. The effects of these … the proposed pension reform succeeds in urging the older workers to postpone their retirement and induces an increase in …
Persistent link: https://www.econbiz.de/10003751885
extent to which those who recently reached the state pension age in the UK have saved optimally for retirement. The policy … households have wealth levels far greater than necessary to maintain their living standards into and through retirement. …
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This paper considers an alternative way of structuring stochastic variables in a dynamic programming framework where the model structure dictates that numerical methods of solution are necessary. Rather than estimating integrals within a Bellman equation using quadrature nodes, we use nodes...
Persistent link: https://www.econbiz.de/10012968342
Based on a dynamic life cycle model, this study analyzes health-related risks of consumption and old-age poverty. The model allows for health effects on employment risks, on productivity, on longevity, the correlation between health risks, productivity and preferences, and the financial...
Persistent link: https://www.econbiz.de/10012587858
This paper proposes a dynamic life cycle model of health risks, employment, early retirement, and wealth accumulation … the early retirement option, the simulations indicate that a means test mitigates the moral hazard problem substantially. …
Persistent link: https://www.econbiz.de/10010685901
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This paper considers an alternative way of structuring stochastic variables in a dynamic programming framework where the model structure dictates that numerical methods of solution are necessary. Rather than estimating integrals within a Bellman equation using quadrature nodes, we use nodes...
Persistent link: https://www.econbiz.de/10011783516