-side explanation for the frequently observed discrete drop from full-time work to complete retirement. …

Retirement ages among older Americans have only recently begun to increase after a precipitous fifty-year decline …. Early retirement may result from incentives provided by retirement systems; but it may also result from the rigidities …

Retirement ages among older Americans have only recently begun to increase after a precipitous fifty-year decline …. Early retirement may result from incentives provided by retirement systems; but it may also result from the rigidities …

-side explanation for the frequently observed discrete drop from full-time work to complete retirement …

The effects on consumption and retirement of characteristics of the life cycle, especially the length of the horizon … effect on effort, but its magnitude is quite small. The panel from the Retirement History Survey is used, and life …-cycle effects on consumption and retirement are estimated jointly for 1973 and 1975. There is a weak small effect of a more distant …