讲座题目：Occupational Retirement and Social Security Reform: the Roles of Physical and Cognitive Health
讲座时间：2021年12月3日（周五）上午10:00-11:30
讲座地点：腾讯会议，会议号：425185492，密码：367205
主讲人简介：
文家奕，厦门大学经济学院与王亚南经济研究院助理教授，博士毕业于西班牙货币与金融研究中心(CEMFI)。研究方向为公共经济学、劳动经济学、家庭经济学。主要研究兴趣是个人与家庭的行为决策，例如退休、劳动供给、储蓄与消费、婚姻等，特别是在动态预期、不确定性和行为经济学的框架下。目前主持国家自然科学基金（青年项目）一项。
讲座摘要：
During the past decades, jobs become less physically demanding whereas require more cognitive abilities, but existing studies rarely discuss the retirement implications of the cognitive dimension of health, neither the heterogeneous role of physical and cognitive health across occupations. This paper first documents occupational difference in ability requirements, age-profiles of physical and cognitive health, as well as their interactions in associating with retirement. Based on these facts, I propose and estimate a dynamic structural model of individual retirement and saving decisions, incorporating both physical and cognitive dimensions of health and allowing their retirement effects to differ across occupations via four channels respectively: leisure, wage, medical expenditure and life expectancy. I use indirect inference for estimation, using variants of auxiliary models to exploit either pooled variations or only within-individual variations to identify the model. The counterfactual results suggest cognitive health has minimal retirement effect for manual workers, whereas for clerical workers it is as vital as physical health. Leisure and life expectancy are more important channels. When retirement age increases, manual workers would actually delay retirement more than professionals. This is not due to their health capacity but instead to their financial rigidity in deciding when to retire, inducing unequal welfare loss.
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