This paper investigates the responsiveness of individuals' retirement expectations to forward-looking measures of … pension wealth accumulations. While most of the existing literature on retirement has used cross-sectional variation to … identify the effects of pension and Social Security wealth on retirement behavior, we estimate fixed-effects regressions to …

While the effect of social security systems on retirement decisions has received much attention, the impact of these … systems on individuals incentives to invest in their human capital has not been analyzed. We integrate human capital … investment and retirement decisions in a simple analytical life-cycle model with full certainty and investigate how different …

Using Italian data, we estimate an option value model to quantify the effectof financial incentives on retirement …