Smith, Sarah (2005) Can the retirement-consumption puzzle be resolved?: evidence from the British Household Panel Survey. Discussion paper: UBS Pensions Series 033, 528. Financial Markets Group, London School of Economics and Political Science, London, UK.
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Abstract
This paper uses data from the British Household Panel Survey to shed further light on the fall in spending at retirement (the “retirement-consumption puzzle”). Comparing food spending for men retiring involuntarily early (through ill health or redundancy) with spending for those who retire voluntarily, it finds a significant fall in spending only for those who retire involuntarily. This is consistent with the observed fall in spending being linked to a negative wealth shock for some retirees. Evidence on psychological and financial well-being also indicates that the retirement experience of involuntary retirees is very different to that of voluntary retirees.
| Item Type: | Monograph (Discussion Paper) |
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| Official URL: | http://fmg.lse.ac.uk |
| Additional Information: | © 2005 The Author |
| Library of Congress subject classification: | H Social Sciences > HG Finance H Social Sciences > HB Economic Theory |
| Journal of Economic Literature Classification System: | D - Microeconomics > D9 - Intertemporal Choice and Growth > D91 - Intertemporal Consumer Choice; Life Cycle Models and Saving J - Labor and Demographic Economics > J2 - Time Allocation, Work Behavior, and Employment Determination and Creation; Human Capital; Retirement > J26 - Retirement; Retirement Policies |
| Sets: | Research centres and groups > Financial Markets Group (FMG) Collections > Economists Online Collections > LSE Financial Markets Group (FMG) Working Papers |
| Identification Number: | 528 |
| Date Deposited: | 29 Jul 2009 10:31 |
| URL: | http://eprints.lse.ac.uk/24642/ |
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