BACKGROUND Several studies regarding the effect of retirement on physical as well as mental health have been performed, but the results thereof remain inconclusive. The aim of this review is to systematically summarise the literature on the health effects of retirement, describing differences in terms of voluntary, involuntary and regulatory retirement and between blue-collar and white-collar w...

Retirement flexibility and inability to borrow against future labor income can significantly affect optimal consumption and investment. With voluntary retirement, there exists an optimal wealth-to-wage ratio threshold for retirement and human capital correlates negatively with the stock market even when wages have zero or slightly positive market risk exposure. Consequently, investors optimally...

Using data from China's Urban Household Survey and exploiting China's mandatory retirement policy, we use the regression discontinuity approach to estimate the impact of retirement on household expenditures. Retirement reduces total non-durable expenditures by 21 percent. Among the categories of non-durable expenditures, retirement reduces work-related expenditures and expenditures on food cons...

We investigate the causal effect of retirement on health and cognitive abilities by exploiting the panel dimension of the first two waves of the Survey of Health Ageing and Retirement in Europe (SHARE) and the variation between and within European countries in old age retirement rules. We show evidence of substantial heterogeneity in the effect of retirement across occupational groups. In parti...

Voluntary’ and ‘Involuntary’ Early Retirement: An International Analysis Recent literature makes a distinction between 'voluntary' and 'involuntary' early retirement, where 'involuntary' early retirement results from employment constraints rather than from a preference for leisure relative to work. This paper analyzes 'voluntary' and 'involuntary' early retirement based on international microda...

Health Status, Disability and Retirement Incentives in Belgium Many Belgian retire well before the statutory retirement age. Numerous exit routes from the labor force can be identified: old-age pensions, conventional early retirement, disability insurance, and unemployment insurance are the most prominent ones. We analyze the retirement decision of Belgian workers adopting an option value frame...

This paper presents a model where young and old workers compete for one type of jobs in the presence of retirement opportunity. Within this framework, we show that increased retirement opportunities (such as early retirement) has most of the time a depressing impact on the unemployment rate. Indeed the number of vacancies posted by firms is influenced by the probability that an old worker is go...

The responsibility to save and contribute to a pension is increasingly left to the individual worker. Understanding how households save and prepare for retirement is of paramount importance. There is concern in the U.S. that many families have little or no wealth even close to retirement. In this project, I use data from the Health and Retirement Study (HRS), a nationally representative sample ...