A Theory of Retirement

David E. Bloom, David Canning, Michael Moore

We construct a life-cycle model in which retirement occurs at the end of life as a result of declining health. We show that improvements in life expectancy, coupled with a delay in the onset of disability, increases both the optimal consumption level and the proportion of life spent in leisure. The retirement age increases proportionally less than the increase in life expectancy

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Year of publication:	November 2007
Authors:	Bloom, David E.
Other Persons:	Canning, David (contributor) ; Moore, Michael (contributor)
Institutions:	National Bureau of Economic Research (contributor)
Publisher:	Cambridge, Mass : National Bureau of Economic Research
Subject:	Theorie \| Theory \| Altersgrenze \| Retirement \| Lebenszyklus \| Life cycle \| Rentner \| Pensioners \| Sterblichkeit \| Mortality \| Gesundheit \| Health \| Behinderte \| Disabled persons

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