This paper develops a general equilibrium simulation model of a heterogeneous population in which both consumption/saving and labor/leisure choices are endogenous. The authors use it to explore the effects of the different state benefit systems on the labor supply of old and older workers in...

We estimate hazard rates of retirement entry as a function of the option value of work. The individuals’ expectations about the future economy are incorporated in the option value of work, through which they can impact on the timing of retirement entry. In a scenario where individuals expect a...

This paper provides new evidence of coordination of retirement by mature age couples in Australia. Two complementary estimation approaches are used to highlight the importance of taking the household decision-making context into account when modeling the retirement behaviour of partnered men and...