The Effect of Improvements in Health and Longevity on Optimal Retirement and Saving
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We develop a life-cycle model of optimal retirement and savings behavior under complete markets where retirement is caused by worsening health in old age. Our model explains the long-run decline in the age of retirement as an income level effect. We show that improvements in health and longevity
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美国国家经济研究局创建时间：
2004-11-01
