| 来源类型 | Article |
| 规范类型 | 其他 |
| DOI | 10.1016/j.jet.2015.04.006 |
| Optimal choice of health and retirement in a life-cycle model. | |
| Kuhn M; Wrzaczek S; Prskawetz A; Feichtinger G | |
| 发表日期 | 2015 |
| 出处 | Journal of Economic Theory 158: 186-212 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | We examine within a life-cycle model the simultaneous choice of health care and retirement (together with consumption). Health tends to have an impact on retirement through morbidity, determining earnings and the disutility of work, and through longevity, determining the need to accumulate retirement wealth. Conversely, the age of retirement drives the demand for health care through the value of survival and the value of morbidity reductions. We characterise the optimal relationship between health expenditure and retirement and apply our model to analyse the effects of moral hazard in the annuity market. While moral hazard always induces excessive health investments and an excessive duration of working life, it also triggers an excessive level of consumption if the impact of health on the disutility of work is sufficiently large. We examine a transfer scheme and mandatory retirement as poicies towards curtailing moral hazard. Numerical analysis illustrates the role of moral hazard in shaping the life-cycle allocation. |
| 主题 | World Population (POP) |
| 关键词 | health life-cycle model moral hazard retirement value of life |
| URL | http://pure.iiasa.ac.at/id/eprint/11448/ |
| 来源智库 | International Institute for Applied Systems Analysis (Austria) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/130358 |
| 推荐引用方式 GB/T 7714 | Kuhn M,Wrzaczek S,Prskawetz A,et al. Optimal choice of health and retirement in a life-cycle model.. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
