Raising the retirement age is a common policy response when social security schemes face fiscal pressures. We develop … and estimate a dynamic life cycle model to study optimal retirement and tax policy when individuals face health shocks and … income risk and make endogenous retirement decisions. The model incorporates key features of Social Security, Medicare …

could be achieved if people retire from the work force later in life. Partial retirement, the option to work part-time while … drawing a pension before reaching the normal retirement age, could create the necessary conditions for reaching this goal. The … impact of partial retirement on employment will be simulated below. The results show that unrestricted access to partial …

effects of early retirement disincentives on retirement behavior, individual welfare, pensions and public budget. We employ … retirement model. We find that retirement behavior is strongly influenced by the level of disincentives. Further, disincentives …

Using Italian data, we estimate an option value model to quantify the effectof financial incentives on retirement …