desirability of stimulative fiscal policies, public pensions, and inheritance taxes. …

consumer who can select her hours of work and also her retirement age. Using a realistically-calibrated model with stochastic … work effort by the young; and markedly enhances lifetime welfare. Also, introducing annuities leads to earlier retirement … as well as sensible retirement age patterns. …

Tax-qualified retirement plans seek to promote saving for retirement, yet most employers permit pre- retirement access …

Retirees confront the difficult problem of how to manage their money in retirement so as to not outlive their funds … allocation decisions when managing her retirement financial wealth and annuities, and we prove that she can benefit from both the … equity premium and longevity insurance in her retirement portfolio. Even without bequests, she will not fully annuitize …

An enhanced version of a structural model jointly explains benefit claiming, wealth and retirement, including reversals … Retirement Study data, it does a better job of predicting claiming than previous versions. Alternative beliefs about the future … entitlement age, increasing the full retirement age, and eliminating the payroll tax for seniors. Predicted responses to …

embeds that model of health dynamics in a structural, econometric model of retirement and saving. The health model traces the … current health status of the population reduces the retirement age of the entire population by an average of about one year …. While poor health or terrible health have a great impact on the disutility of work and thus on retirement, fair health as …