Mandatory Retirement and the Consumption Puzzle: Prices Decline or Quantities Decline?
نویسندگان
چکیده
منابع مشابه
Some Answers to The Retirement-Consumption Puzzle
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متن کاملThe Retirement of a Consumption Puzzle
This paper summarizes five facts that have emerged from the recent literature on consumption behavior during retirement. Collectively, the recent literature has shown that there is no puzzle with respect to the spending patterns of most households as they transition into retirement. In particular, the literature has shown that there is substantial heterogeneity in spending changes at retirement...
متن کاملThe Retirement Consumption Puzzle in China
Using data from China's Urban Household Survey and exploiting China's mandatory retirement policy, we use the regression discontinuity approach to estimate the impact of retirement on household expenditures. Retirement reduces total non-durable expenditures by 21 percent. Among the categories of non-durable expenditures, retirement reduces work-related expenditures and expenditures on food cons...
متن کاملThe Retirement-Consumption Puzzle: A Marital Bargaining Approach
Evidence from several countries reveals a substantial drop in household consumption around the age of retirement that is difficult to explain with life-cycle models. Using food consumption data from more than 550 households from the Panel Study of Income Dynamics for the years 1979 – 1986 & 1989 – 1992, we find that married couple households decrease their expenditures on both food consumed at ...
متن کاملThe Retirement-Consumption Puzzle: Actual Spending Change in Panel Data
The simple one-good model of life-cycle consumption requires that consumption be continuous over retirement; yet prior research based on partial measures of consumption or on synthetic panels indicates that spending drops at retirement, a result that has been called the retirement-consumption puzzle. Using panel data on total spending, nondurable spending and food spending, we find that spendin...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2016
ISSN: 1556-5068
DOI: 10.2139/ssrn.2744760