Understanding how health influences retirement is fundamental for the design of targeted policies that encourage … working longer. While there is wide agreement on the relevance of age-related health decline for determining retirement …

The authors formulate a stylized structural model of health, wealth accumulation and retirement decisions building on … the human capital framework of health provided by Grossman. They explicitly assume a functional form of the utility … consumption, health, health investment, savings and retirement. They argue that the Grossman literature has been unnecessarily …