Lumsdaine, Robin L.; Stock, James H.; Wise, David A. - 2021
rates are particularly high at age 65. While there are numerous economic reasons why individuals may choose to retire at 65 …, empirical models that have attempted to explain the age-65 spike have met with limited success. Interpreted another way, while … many models would predict a jump in the hazard rate at age 65, the magnitude of the spike indicates excessive response …