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The Retirement-Consumption Puzzle and Involuntary Early Retirement: Evidence from the British Household Panel Survey

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Sarah Smith

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Abstract

This article uses data from the British Household Panel Survey (BHPS) to shed further light on the fall in consumption at retirement (the 'retirement-consumption puzzle'). Comparing food spending of men retiring involuntarily early (through ill health or redundancy) with spending of men 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. Copyright 2006 Royal Economic Society.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0297.2006.01080.x
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Publisher Info
Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 116 (2006)
Issue (Month): 510 (03)
Pages: C130-C148
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Handle: RePEc:ecj:econjl:v:116:y:2006:i:510:p:c130-c148

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Web page: http://www.res.org.uk/
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  1. David M. Blau, 2007. "Retirement and Consumption in a Life Cycle Model," IZA Discussion Papers 2986, Institute for the Study of Labor (IZA). [Downloadable!]
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  2. Lutz Bellmann & Florian Janik, 2007. "Firms and Early Retirement: Offers That One Does Not Refuse," IZA Discussion Papers 2931, Institute for the Study of Labor (IZA). [Downloadable!]
  3. David Dorn & Alfonso Sousa-Poza, 2007. "‘Voluntary’ and ‘Involuntary’ Early Retirement: An International Analysis," IZA Discussion Papers 2714, Institute for the Study of Labor (IZA). [Downloadable!]
  4. Erik Hurst, 2008. "The Retirement of a Consumption Puzzle," NBER Working Papers 13789, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  5. Sule Alan & Kadir Atalay & Thomas F. Crossley, 2008. "The Adequacy of Retirement Savings: Subjective Survey Reports by Retired Canadians," Canadian Public Policy, University of Toronto Press, vol. 34(s1), pages 95-118, November. [Downloadable!] (restricted)
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This page was last updated on 2009-11-12.

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