How does endogenizing retirement (career-length) choice change the labor-supply and human-capital implications of the canonical Heckman, Lochner, and Taber (1998a, HLT) life-cycle general-equilibrium …
Online FirstReview of Economic StudiesOnline 2 Jul 2026
The paper introduces a survey instrument — fielded in the Copenhagen Life Panel in January 2021 to about 10,900 employed Danes aged 20-65 — that measures how much earnings risk workers subjectively …