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dp182retirement flexibility and portfolio choice pdf
... al. (2008), farhi and panageas (2007) and lachance (2003, 2004), model optimal retirement as a discretionary stopping problem. although all these studies differ in many respects, they have in com- ... of this paper are relevant for private or public pension institutions, like corporate pension funds, trust funds or life-insurance companies, to which individuals have dedicated or will dedicate their ...
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