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- handle: 10670/1.q2giaw
- hal: hal-00659868
- doi: 10.1016/j.jet.2011.11.004
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info:eu-repo/semantics/altIdentifier/doi/10.1016/j.jet.2011.11.004
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mortality decline incentive for early retirement years-to-consume effect lifetime human wealth effect D - Microeconomics/D.D9 - Intertemporal Choice/D.D9.D91 - Intertemporal Household Choice • Life Cycle Models and Saving J - Labor and Demographic Economics/J.J1 - Demographic Economics/J.J1.J11 - Demographic Trends, Macroeconomic Effects, and Forecasts J - Labor and Demographic Economics/J.J2 - Demand and Supply of Labor/J.J2.J26 - Retirement • Retirement PoliciesSujets proches
Patients--Mortality Mortality, Law ofCiter ce document
d'Albis Hippolyte et al., « Mortality transition and differential incentives for early retirement », HAL-SHS : économie et finance, ID : 10.1016/j.jet.2011.11.004
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Résumé
Many studies specify human mortality patterns parametrically, with a parameter change affecting mortality rates at different ages simultaneously. Motivated by the stylized fact that a mortality decline affects primarily younger people in the early phase of mortality transition but mainly older people in the later phase, we study how a mortality change at an arbitrary age affects optimal retirement age. Using the Volterra derivative for a functional, we show that mortality reductions at older ages delay retirement unambiguously, but that mortality reductions at younger ages may lead to earlier retirement due to a substantial increase in the individual's expected lifetime human wealth.