论文题目：Occupational Retirement and Social Security Reform: the Roles of Physical and Cognitive Health
摘要：Skill-biased technical change leads jobs to be less physically demanding whereas require more cognitive abilities, but existing research on retirement pays little attention on the cognitive dimension of health. This paper first explores occupational facts in ability requirements, multiple dimensions of health, and their interactive relationship in retirement. Based on these facts, this paper proposes and estimates 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 little 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 fnancial rigidity in deciding when to retire.