Stylized model 

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analyzing labour supply elderly people life cycle approach pdf
... via wealth effects, income effects and inter- and intratemporal substitution effects. the stylized model offers a profound theoretical underpinning which helps us to understand these ... model is unique in describing retirement by elderly workers. the model is, however, highly stylized in a number of ways, which renders it less suitable for drawing firm policy conclusions. for instance, the model ...
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Microsoft Word - discussion165.doc
... , or simply a relatively high wage during the final periods prior to retirement. in a stylized model, becker and stigler (1974) demonstrate that a wage premium in the last period, combined with ... would look like. we consider three issues in order to link the theory with some stylized empirical facts. first, as was already mentioned in the previous subsection, entrance fees (or performance ...
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