The U.S. economy has recently experienced two, seemingly unrelated, phenomena: a large increase in post-retirement life … expectancy and a major expansion in securitization and shadow banking activities. We argue they are intimately related. Agents … rely on financial intermediaries to save for post-retirement consumption. When expecting to live longer, they rely more …

The U.S. economy has recently experienced two, seemingly unrelated, phenomena: a large increase in post-retirement life … expectancy and a major expansion in securitization and shadow banking activities. We argue they are intimately related. Agents … rely on financial intermediaries to save for post-retirement consumption. When expecting to live longer, they rely more …

This paper identifies and estimates the impact of early retirement on the probability to die within five years, using … civil servants became eligible for retirement earlier than expected during a short time window. This exogenous policy change … is used to instrument the retirement choice in a model that explains the probability to die within five years. Exploiting …

for a reduction in both mortality and in inpatient care as a consequence of the early retirement offer. Increasing the …This paper studies empirically the consequences of retirement on health. We make use of a targeted retirement offer to … army employees 55 years of age or older. Before the offer was implemented in the Swedish defense, the normal retirement age …

for a reduction in both mortality and in inpatient care as a consequence of the early retirement offer. Increasing the …This paper studies empirically the consequences of retirement on health. We make use of a targeted retirement offer to … army employees 55 years of age or older. Before the offer was implemented in the Swedish defense, the normal retirement age …