In this paper the existing methodology of conditioning Taylor approximation is used to solve a general model from the area of pensions. More specifically, we searched for the optimal multi-period investment strategy of an investor whose accumulation phase (lasting M years) is followed by an...

This paper analyses old-age retirement decisions of Slovenian men and women eligible to retire in the period 1997-2003. In addition to established market economies, relatively high hazard rates of retirement are found, which decline with age. This peculiar pattern can be partly attributed to...

In this paper we analyse old-age retirement decisions of Slovenian men and women eligible to retire in the period 1997-2003. In comparison to established market economies, we find relatively high hazard rates of retirement that decline with age. This peculiar pattern can be partly attributed to...