Job Exit Behavior of Older Men
构建并估计了一个老年男性离职与退休行为的动态规划模型，发现健康状况差、年龄大和教育程度低会增加退休概率，且动态模型优于静态模型。
A dynamic programming model of job exit behavior and retirement is constructed and estimated using the method of simulated moments. The model and estimation method allow for both unobserved individual effects and unobserved job-specific match effects. The model is estimated using two different assumptions about individual discount factors. First, a static model, with the discount factor equal to zero, is estimated. Then a dynamic model, with the discount factor equal to .95 is estimated. In both models, it is found that bad health, age, and lack of education increase the probability of retirement. The dynamic model performs better than the static model and has different implications for retirement behavior. The job-specific effects are an important source of unobserved heterogeneity. Copyright 1991 by The Econometric Society.