?> 2007 – Publication Years – MRDRC

What Makes Retirees Happier: A Gradual or ‘Cold Turkey’ Retirement?

This study explores the factors that affect an individual’s happiness while transitioning into retirement. Recent studies highlight gradual retirement as an attractive option to older workers as they approach full retirement. However, it is not clear whether phasing or cold…

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Validating Life-Cycle Models: Lifetime Earnings and the Timing of Retirement

This paper provides a method for validating, and distinguishing between, different life-cycle models of consumption and labor supply. We derive qualitative predictions for two prominent life-cycle model formulations – having non-separable and separable in consumption and leisure – and we…

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Estimating the Health Effects of Retirement

We estimate the magnitude of any direct effect of retirement on health. Since retirement is endogenous to heath, it is not possible to estimate this effect by comparing the health of individuals before and after they retire. As an alternative…

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How Fast Should the Social Security Eligibility Age Rise?

Many Social Security reform proposals recommend increasing the age at which people become eligible for Social Security retirement benefits as a way to reduce future expenditures, maintain benefit adequacy in light of other benefit cuts, and increase labor supply. But…

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