We assess the long-run growth effects of rising longevity and increasing the retirement age when growth is driven by … the retirement age fosters economic growth. How economic growth changes in response to rising life expectancy depends on … the retirement response. Employing numerical analysis we find that the requirement for experiencing a growth stimulus from …

We assess the long-run growth effects of rising longevity and increasing the retirement age when growth is driven by … the retirement age fosters economic growth. How economic growth changes in response to rising life expectancy depends on … the retirement response. Employing numerical analysis we find that the requirement for experiencing a growth stimulus from …

We study the effects of an annuity market imperfection on individual agents' labour supply and retirement decisions and …-independent wages and a constant mortality rate. In the first extension we study the implications for microeconomic decisions and … realistic mortality process. Our main findings are that the limited availability of annuities induces agents to retire early in …