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The introduction of disincentives for early retirement and its effect on labor market participation : conference paper
Kemptner, Daniel; Timm, Boenke; Holger, Luethen - 2014 - Preliminary draft
We evaluate the actual effectiveness of disincentives that have been introduced for early retirement in Germany. Therefore, we set up a detailed model of the German social security and tax system with special attention to the PAYG-pension system. Building on the fact that the institutional...
Persistent link: https://www.econbiz.de/10010486012
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Dynamic programming model of health and retirement
Iskhakov, Fedor - 2008
from the labour force. Health status is represented by a latent variable reflecting the eligibility for participating in … disability insurance scheme. Estimates of the structural parameters of the concealed health process allow for forecasting the …
Persistent link: https://www.econbiz.de/10010284409
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The Impact of an Increase in the Legal Retirement Age on the Effective Retirement Age
Bernal, Noelia - 2013
supply declines considerably and this varies by health status. We simulate a soon to be implemented pension reform which aims … individuals mainly depend on their health status …
Persistent link: https://www.econbiz.de/10013085548
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Pension reform in Norway : evidence from a structural dynamic model
Iskhakov, Fedor (contributor) - 2008
health and retirement estimated on the Norwegian labour market data. The paper focuses on the two main elements of the reform … total social welfare, individuals in good health who retire early experience a negative change in their discounted utility … ; structural dynamic model ; health ; retirement …
Persistent link: https://www.econbiz.de/10003751885
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Non-Parametric Integral Estimation Using Data Clustering in Stochastic Dynamic Programming : An Introduction Using Lifetime Financial Modelling
Khemka, Gaurav - 2017
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
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Pension reform in Norway: Evidence from a structural dynamic model
Iskhakov, Fedor - 2008
health and retirement estimated on the Norwegian labour market data. The paper focuses on the two main elements of the reform … total social welfare, individuals in good health who retire early experience a negative change in their discounted utility …
Persistent link: https://www.econbiz.de/10010285595
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Investment under risk with discrete and continuous assets
Elbers, Chris; Gunning, Jan Willem; Vigh, Melinda - 2009
This paper considers a general class of stochastic dynamic choice models with discrete and continuous decision variables. This class contains a variety of models that are useful for modeling intertemporal household decisions under risk. Our examples are drawn from the field of development...
Persistent link: https://www.econbiz.de/10011378329
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A stochastic discrete choice dynamic programming model of power plant operations and retirement
Çam, Eren; Hinkel, Niklas; Schönfisch, Max - 2022
We present a methodology to estimate fixed cost parameters relevant to the decision to operate, mothballor retire an open-cycle gas turbine (OCGT) using a dynamic discrete choice model, based on fuel andelectricity prices, as well as technical data and the operational status of OCGTs in the PJM...
Persistent link: https://www.econbiz.de/10012820376
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Sufficient Statistics for Unobserved Heterogeneity in Structural Dynamic Logit Models
Aguirregabiria, Victor - 2018
We study the identification and estimation of structural parameters in dynamic panel data logit models where decisions are forward-looking and the joint distribution of unobserved heterogeneity and observable state variables is nonparametric, i.e., fixed-effects model. We consider models with...
Persistent link: https://www.econbiz.de/10012919609
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Solution and Estimation of Dynamic Discrete Choice Structural Models Using Euler Equations
Aguirregabiria, Victor - 2016
This paper extends the Euler Equation (EE) representation of dynamic decision problems to a general class of discrete choice models and shows that the advantages of this approach apply not only to the estimation of structural parameters but also to the solution of the model and the evaluation of...
Persistent link: https://www.econbiz.de/10012980292