search query: @indexterm Early retirement / total: 25
reference: 13 / 25
| Author: | Chang, F.-R. |
| Title: | Uncertain lifetimes, retirement and economic welfare |
| Journal: | Economica
1991 : MAY, VOL. 58:230, p. 215-32 |
| Index terms: | RETIREMENT SOCIAL WELFARE SAVINGS INDIVIDUAL BEHAVIOUR EARLY RETIREMENT |
| Language: | eng |
| Abstract: | The impact of the upward trends in the life expectancy upon retirement time and other related issues are examined. Since a change in the survival probability is analogous to a change in intertemporal prices, the effect of increased life expectancy is ambiguous. It is shown that the decision to retire earlier or later depends on the old-age saving behaviour. If one saves in old age, early retirement is likely. It is also shown that the effect of intertemporal substitutions, arising from the imperfections of the annuity market, could produce a tilt to the reservation wage profile, which, in turn, makes early retirement possible. |
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