life expectancy related to observable factors such as income, gender, and health have large effects on savings, and that …

This paper analyses the impact of health, pension systems and longevity on savings. It uses a simple life-cycle model … embodying social transfers (health care and pension expenditures) and changes in longevity to determine the level of household … savings. From this model, we derived an econometric specification, augmented with the effects of public budget balances. The …

life expectancy related to observable factors such as income, gender, and health have large effects on savings, and that …

We develop a life-cycle model of optimal retirement and savings behavior under complete markets where retirement is … caused by worsening health in old age. Our model explains the long-run decline in the age of retirement as an income level … effect. We show that improvements in health and longevity tend to increase the desired retirement age, though less than …

Lifetime financial-, work- and health-related decisions made by agents are intertwined with one another. Understanding …. This paper numerically solves, simulates, and structurally estimates a dynamic life cycle model of allocations (consumption/savings …, leisure/work and health expenditures), statuses (health, financial and pension wealth) and welfare, allowing for (partially …