This paper uses longitudinal test data to analyze the relation be- tween retirement and cognitive development. Controlling for individ- ual …xed e¤ects and lagged cognition, we …nd that retirees face greater declines in information processing speed than those who remain em- ployed. However,...

This paper studies the optimal public investment decisions in countries experiencing a resource windfall. To do so, we use an augmented version of the Permanent Income framework with public investment faced with adjustment costs capturing the associated administrative capacity as well as...