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dc.contributor.authorD'Albis, Hippolyte
dc.contributor.authorLau, Paul S.
dc.contributor.authorSanchez-Romero, Miguel
dc.date.accessioned2011-07-27T15:37:51Z
dc.date.available2011-07-27T15:37:51Z
dc.date.issued2012
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/6825
dc.language.isoenen
dc.subjectincentive for early retirementen
dc.subjectlifetime human wealth effecten
dc.subjectyears-to-consume effecten
dc.subjectmortality declineen
dc.subject.ddc331en
dc.subject.classificationjelD91en
dc.subject.classificationjelJ11en
dc.subject.classificationjelJ26en
dc.titleMortality transition and differential incentives for early retirementen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenMany 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 mortalitytransition 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 earlierretirement due to a substantial increase in the individualʼs expected lifetime human wealth.en
dc.relation.isversionofjnlnameJournal of Economic Theory
dc.relation.isversionofjnlvol147
dc.relation.isversionofjnlissue1
dc.relation.isversionofjnldate2012
dc.relation.isversionofjnlpages261-283
dc.relation.isversionofdoihttp://dx.doi.org/10.1016/j.jet.2011.11.004
dc.description.sponsorshipprivateouien
dc.relation.isversionofjnlpublisherElsevieren
dc.subject.ddclabelEconomie du travailen


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