The Life-Cycle Model with Optimal Retiring Age and Simulation |
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| Authors: | Donghan Cai Zhou Zhong Yuanyuan Li |
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| Institution: | 1.School of Mathematics and Statistics,Wuhan University,Wuhan, Hubei,China |
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| Abstract: | In this paper, a life-cycle model with retirement is set up to study how an individual chooses the optimal retiring age on account of wage growth rate, longevity and healthy state. It is proved that there exists optimal retiring age under given conditions. The numerical simulations are given to show how wage growth rate, longevity and healthy state affect retiring age. |
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