relationship between recent stock returns and the annuitization of retirement savings. After controlling for several standard …

; endogenous timing of retirement; volatility of stock market returns and time varying risk aversion; and expectations about labor …

; endogenous timing of retirement; volatility of stock market returns and time varying risk aversion; and expectations about labor …

Managing retirement wealth is one of the major financial decisions that individuals face. In this setting, I document a … generated by movements of the stock market; endogenous timing of retirement; volatility of stock market returns and time varying … retirement wealth if, for example, individuals annuitize too early because of a market drop …

This paper specifies and estimates a structural dynamic stochastic model of the way individuals make retirement and … saving choices in an uncertain world, and applies that model to analyze the effects of the stock market bubble on retirement … behavior. The model includes individual variation both in retirement preferences and in time preferences. Estimates are based …