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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 paper 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.

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File URL: http://www.bris.ac.uk/Depts/CMPO/workingpapers/wp138.pdf
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Bibliographic Info

Paper provided by Department of Economics, University of Bristol, UK in its series The Centre for Market and Public Organisation with number 06/138.

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Length: 22 pages
Date of creation: Jan 2006
Date of revision:
Handle: RePEc:bri:cmpowp:06/138

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Keywords: Retirement; life-cycle model of consumption and saving.;

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