MARC Record from Scriblio

LEADER: 02021cam 22003497a 4500
001 2005615825
003 DLC
005 20050113144555.0
007 cr |||||||||||
008 050113s0000 mau sb 000 0 eng
010 $a 2005615825
040 $aDLC$cDLC
050 00 $aHB1
100 1 $aBloom, David E.$q(David Elliot),$d1955-
245 14 $aThe effect of improvements in health and longevity on optimal retirement and saving$h[electronic resource] /$cDavid E. Bloom, David Canning, Michael Moore.
260 $aCambridge, MA :$bNational Bureau of Economic Research,$cc0000.
490 1 $aNBER working paper series ;$vworking paper 10919
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 1/13/2005.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"We develop a life-cycle model of optimal retirement and savings behavior under complete markets where retirement is caused by worsening health in old age. Our model explains the long-run decline in the age of retirement as an income level effect. We show that improvements in health and longevity tend to increase the desired retirement age, though less than proportionately, while, contrary to conventional views, reducing savings rates. The retirement age is not simply proportional to healthy life span because compound interest creates a wealth effect when lifespan increases, leading to more leisure (early retirement) and higher consumption (lower savings)"--National Bureau of Economic Research web site.
650 0 $aHealth.
650 0 $aLongevity.
650 0 $aRetirement age.
650 0 $aSaving and investment.
700 1 $aCanning, David.
700 1 $aMoore, Michael.
710 2 $aNational Bureau of Economic Research.
830 0 $aWorking paper series (National Bureau of Economic Research : Online) ;$vworking paper no. 10919.
856 40 $uhttp://papers.nber.org/papers/w10919