Arbeitspapier
Retirement with Perfect Insurance
This paper focuses on the relation between worker's productivity and retirement decision. Assuming that productivity follows geometric Brownian motion with drift, there exists such a level of productivity for which it is optimal to retire. The worker buys an insurance, which gives a constant income and retirement benefits in exchange for the total output. The level of income and benefits is set to maximize lifetime utility. In such framework we find the retirement threshold of productivity and the probability of retirement.
- Sprache
-
Englisch
- Erschienen in
-
Series: Tinbergen Institute Discussion Paper ; No. 03-097/3
- Klassifikation
-
Wirtschaft
Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
Insurance; Insurance Companies; Actuarial Studies
Retirement; Retirement Policies
- Thema
-
retirement
insurance
productivity
Altersgrenze
Arbeitsproduktivität
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Kula, Grzegorz
- Ereignis
-
Veröffentlichung
- (wer)
-
Tinbergen Institute
- (wo)
-
Amsterdam and Rotterdam
- (wann)
-
2003
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Kula, Grzegorz
- Tinbergen Institute
Entstanden
- 2003
Ähnliche Objekte (12)
Human Capital and Retirement
Fertility and Parental Retirement
Self-Employment around Retirement Age
On Expectations, Realizations and Partial Retirement
Insurance Sector Risk
Early Retirement: The Impact of Changes in the Benefit Level
Perfect Equilibria in a Negotiation Model with Different Time Preferences
Markov-Perfect Nash Equilibria in Models with a Single Capital Stock
The Welfare Effects of Discrimination in Insurance
The Credibility Problem in Unemployment Insurance Policy
Evidence on Informal Insurance in Rural Zimbabwe
Disentangling Retirement and Savings Responses
Human Capital and Retirement
Fertility and Parental Retirement
Self-Employment around Retirement Age
On Expectations, Realizations and Partial Retirement
Insurance Sector Risk
Early Retirement: The Impact of Changes in the Benefit Level
Perfect Equilibria in a Negotiation Model with Different Time Preferences
Markov-Perfect Nash Equilibria in Models with a Single Capital Stock
The Welfare Effects of Discrimination in Insurance
The Credibility Problem in Unemployment Insurance Policy
Evidence on Informal Insurance in Rural Zimbabwe
Disentangling Retirement and Savings Responses
Human Capital and Retirement
Fertility and Parental Retirement
Self-Employment around Retirement Age
On Expectations, Realizations and Partial Retirement
Insurance Sector Risk
Early Retirement: The Impact of Changes in the Benefit Level
Perfect Equilibria in a Negotiation Model with Different Time Preferences
Markov-Perfect Nash Equilibria in Models with a Single Capital Stock
The Welfare Effects of Discrimination in Insurance
The Credibility Problem in Unemployment Insurance Policy
Evidence on Informal Insurance in Rural Zimbabwe