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A Model of Social Security and Retirement Decisions / Eytan Sheshinski.
- Format:
- Book
- Author/Creator:
- Sheshinski, Eytan.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w0187.
- NBER working paper series no. w0187
- Language:
- English
- Subjects (All):
- Retirement age.
- Saving and investment.
- Social security.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1977.
- Cambridge, Mass. : National Bureau of Economic Research, 1977.
- Summary:
- The purpose of the present paper is to focus on the potential inducement to retire earlier in the presence of social security and on the implied effects on lifetime savings. This problem is analyzed within the framework of a model of intertemporal utility maximization. The organization of this work is as follows. Section 1 introduces the topic. Section 2 presents the model of individual optimization and of the market equilibrium. Sections 3 through 5 present the comparative statistics analysis. Section 3 evaluates the effects on the equilibrium retirement age, section 4 modifies the benefits formula to depend on retirement age and section 5 examines the wealth-income ratio effect. Section 6 introduces the intergenerational transfer problem. Section 7 presents the general model underlying the previous sections.
- Notes:
- Print version record
- July 1977.
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