已有 561 次阅读 2019-4-14 20:03 |系统分类:论文交流

Hong Mao, Krzysztof Ostaszewski, and Zhongkai Wen, "The Retirement Decision with Consideration of Part㏕ime Work After Retirement," Journal of Insurance Issues, 2019, 42(1): 86–112.


Retirement Decision with Consideration of Part Time Work After Retirement






In this article, we study optimal retirement decision with part-time-work options. We use a model with different leisure preferences before and after the official”retirement; and calculate optimal leisure rate and consumption strategies with numerical methods. Our simulated results indicate that the optimal retirement age is rather sensitive to the following parameters: initial wage, the annual growth rate of the wage, the market rate of return of individuals’ capital stock, the coefficient of leisure preference, and it is specially sensitive to the discount rate. On the other hand, mortality improvement does not simply result in the delay of optimal retirement age. Instead, part-time work after retirement with balanced expected utilities of consumption and leisure may also be an effective way to cope with the longevity risk.


3 杨正瓴 郑永军 魏焱明

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