An Expanded Model of Health and Retirement
This draft contains initial results from the latest version of our model of health and retirement. Compared to previous version, the new version of our model now handles both married couples and single workers, rather than treating all workers as single. In addition, our model now unifies disability and retirement in a single model. The new version also uses the higher quality data available from the restricted versions of the Health and Retirement Survey. Finally, the model is estimated by matching additional moments reflecting heterogeneity in retirement behavior by different types of households. We continue to apply the model to studying the question of the optimal eligibility age for Social Security.
This research was supported by the U.S. Social Security Administration through grant #10-P-98363-1-04 to the National Bureau of Economic Research as part of the SSA Retirement Research Consortium. The findings and conclusions expressed are solely those of the author(s) and do not represent the views of SSA, any agency of the Federal Government, or the NBER. We thank Eric French for helpful comments on an earlier draft.