Changes in Consumption at Retirement: Evidence from Panel Data.
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ABSTRACT:
SUBMITTER: Aguila E
PROVIDER: S-EPMC5293287 | biostudies-literature | 2011 Aug
REPOSITORIES: biostudies-literature
Publications
Changes in Consumption at Retirement: Evidence from Panel Data.
Aguila Emma E Attanasio Orazio O Meghir Costas C
The review of economics and statistics 20110721 3
Previous empirical literature has found a sharp decline in consumption during the first years of retirement, implying that individuals do not save enough for their retirement. This phenomenon is called the <i>retirement consumption puzzle</i>. We find no evidence of the retirement consumption puzzle using panel data from 1980 to 2000. Consumption is defined as nondurable expenditure, a more comprehensive measure than only food used in many of the previous studies. We find that food expenditure d ...[more]
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