TY  - JOUR
AU  - Bloom,David E.
AU  - Canning,David
AU  - Moore,Michael
TI  - A Theory of Retirement
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 13630
PY  - 2007
Y2  - November 2007
UR  - http://www.nber.org/papers/w13630
L1  - http://www.nber.org/papers/w13630.pdf
N1  - Author contact info:
David E. Bloom
Harvard School of Public Health
Department of Global Health and Population
665 Huntington Ave.
Boston, MA 02115
Tel: 617/432-0866
Fax: 617/432-6733
E-Mail: dbloom@hsph.harvard.edu

David Canning
Harvard School of Public Health
Department of Global Health and Population
665 Huntington Ave.
Boston, MA 02115
Tel: 617/432-6336
Fax: 617/566-0365
E-Mail: dcanning@hsph.harvard.edu

Michael Moore
Queens University, Belfast
E-Mail: m.moore@qub.ac.uk
AB  - We construct a life-cycle model in which retirement occurs at the end of life as a result of declining health.  We show that improvements in life expectancy, coupled with a delay in the onset of disability, increases both the optimal consumption level and the proportion of life spent in leisure.  The retirement age increases proportionally less than the increase in life expectancy.
ER  -