Nber Working Paper Series Estimating Life-cycle Parameters from Consumption Behavior at Retirement

Osamu Aruga and Lina Walker provided excellent research assistance with the CEX and HRS data sets, respectively. We are grateful to John Bound, Miles Kimball, Jeff Liebman, Richard Rogerson, Matthew Shapiro and participants in seminars at Arizona State University, the University of Minnesota, the University of Michigan, Osaka University and Tokyo University for their helpful comments. This work was supported by a grant from the Social Security Administration through the Michigan Retirement Research Center (Grant # 10-P-98358-5). The opinions and conclusions are solely those of the authors and should not be considered as representing the opinions or policy of the Social Security Administration or any agency of the Federal Government. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.