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This chapter reviews the theoretical and empirical issues dealing with Social Security pensions. The first part of the chapter discusses pure pay-as-you-go plans. It considers the effects of introducing such a plan on the present value of consumption, the optimal level of benefits in such plans,...
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data points to a reduction in residential crowding and retirement, especially from occupations associated with high …
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close to retirement. The age pattern is partly explained by the positive effect of pension wealth on disability pensions …
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We study the effects of retirement on cognitive functioning among women aged 63 to 67 by exploiting a German retirement … reform that raised the early retirement age for women born after 1951 by three years, from 60 to 63. Our indicators of … of around 12% of a standard deviation per year in retirement for measures of fluid intelligence and of an insignificant 6 …
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