This paper presents an overlapping generations model where agents face labor-income and health risks in order to quantify the macroeconomic and welfare consequences of reform options for the German health care system. In addition to labor supply, consumption and savings, households also choose...

This paper develops a general equilibrium life-cycle model with endogenous retirement and disability risk, in order to quantify the impact of recent pension reforms in Germany. At certain ages households may either apply for disability pensions (DP) or old-age pensions (OAP), de-pending on...