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Household Consumption at Retirement : A Regression Discontinuity Study on French Data

Listed author(s):
  • Nicolas Moreau
  • Elena Stancanelli

Previous literature has investigated the drop in household consumption after the retirement of the household head, referred to as the so-called 'retirement consumption puzzle'. This article expands on these studies by taking the retirement of the wife into consideration, thus distinguishing between 'dualearner' households and those in which the wife is a 'housewife'. A regression discontinuity approach is used to estimate the effect of each partner's retirement on household consumption. The analysis data are derived from the 2001 French Consumer Budget Survey that collected two-week expenditure diaries. The findings indicate a significant and sizable decrease in clothing expenditure upon the retirement of the male partner.

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File URL: http://www.jstor.org/stable/10.15609/annaeconstat2009.117-118.253
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Article provided by GENES in its journal Annals Of Economics and Statistics.

Volume (Year): (2015)
Issue (Month): 117-118 ()
Pages: 253-276

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Handle: RePEc:adr:anecst:y:2015:i:117-118:p:253-276
DOI: 10.15609/annaeconstat2009.117-118.253
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  1. McCrary, Justin, 2008. "Manipulation of the running variable in the regression discontinuity design: A density test," Journal of Econometrics, Elsevier, vol. 142(2), pages 698-714, February.
  2. Hans Bloemen & Elena Stancanelli, 2015. "Toyboys or Supergirls? An analysis of partners' employment outcomes when she outearns him," PSE - Labex "OSE-Ouvrir la Science Economique" hal-00966804, HAL.
  3. Benoit Rapoport & Catherine Sofer & Anne Solaz, 2011. "Household Production in a Collective Model: Some New Results," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00687274, HAL.
  4. Apps, Patricia F & Rees, Ray, 1997. "Collective Labor Supply and Household Production," Journal of Political Economy, University of Chicago Press, vol. 105(1), pages 178-190, February.
  5. David Card & Carlos Dobkin & Nicole Maestas, 2004. "The Impact of Nearly Universal Insurance Coverage on Health Care Utilization and Health: Evidence from Medicare," Working Papers 197, RAND Corporation.
  6. Didier Blanchet & Louis-Paul Pele, 1997. "Social Security and Retirement in France," NBER Working Papers 6214, National Bureau of Economic Research, Inc.
  7. David Card & Carlos Dobkin & Nicole Maestas, 2009. "Does Medicare Save Lives?," The Quarterly Journal of Economics, Oxford University Press, vol. 124(2), pages 597-636.
  8. Michael Hurd & Susann Rohwedder, 2008. "The Retirement-Consumption Puzzle: Actual Spending Change in Panel Data," Working Papers 563, RAND Corporation.
  9. Emmanuel Duguet & Véronique Simonnet, 2007. "Labor market participation in France: an asymptotic least squares analysis of couples’ decisions," Review of Economics of the Household, Springer, vol. 5(2), pages 159-179, June.
  10. Mark Aguiar & Erik Hurst, 2005. "Lifecycle Prices and Production," NBER Working Papers 11601, National Bureau of Economic Research, Inc.
  11. Gustman, Alan L & Steinmeier, Thomas L, 2000. "Retirement in Dual-Career Families: A Structural Model," Journal of Labor Economics, University of Chicago Press, vol. 18(3), pages 503-545, July.
  12. Jean-Olivier Hairault & Francois Langot & Thepthida Sopraseuth, 2010. "Distance to Retirement and Older Workers' Employment: The Case for Delaying the Retirement Age," Journal of the European Economic Association, MIT Press, vol. 8(5), pages 1034-1076, 09.
  13. Mark Aguiar & Erik Hurst, 2013. "Deconstructing Life Cycle Expenditure," Journal of Political Economy, University of Chicago Press, vol. 121(3), pages 437-492.
  14. Stewart, Jay, 2013. "Tobit or not Tobit?," Journal of Economic and Social Measurement, IOS Press, issue 3, pages 263-290.
  15. repec:hal:journl:hal-00687274 is not listed on IDEAS
  16. Guido Imbens & Thomas Lemieux, 2007. "Regression Discontinuity Designs: A Guide to Practice," NBER Working Papers 13039, National Bureau of Economic Research, Inc.
  17. Fisher, Jonathan D. & Johnson, David S. & Marchand, Joseph & Smeeding, Timothy M. & Torrey, Barbara Boyle, 2008. "The retirement consumption conundrum: Evidence from a consumption survey," Economics Letters, Elsevier, vol. 99(3), pages 482-485, June.
  18. Alan L. Gustman & Thomas Steinmeier, 2009. "Integrating Retirement Models," NBER Working Papers 15607, National Bureau of Economic Research, Inc.
  19. Catherine Sofer & Sayyid Salman Rizavi, 2009. "Women's relative position and the division of household work: A study of French couples," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00687280, HAL.
  20. Olivier Donni & Nicolas Moreau, 2007. "Collective Labor Supply: A Single-Equation Model and Some Evidence from French Data," Journal of Human Resources, University of Wisconsin Press, vol. 42(1).
  21. David S. Lee & Thomas Lemieux, 2010. "Regression Discontinuity Designs in Economics," Journal of Economic Literature, American Economic Association, vol. 48(2), pages 281-355, June.
  22. Daniel S. Hamermesh, 1982. "Consumption During Retirement: The Missing Link in the Life Cycle," NBER Working Papers 0930, National Bureau of Economic Research, Inc.
  23. Lundberg, Shelly & Startza, Richard & Stillman, Steven, 2003. "The retirement-consumption puzzle: a marital bargaining approach," Journal of Public Economics, Elsevier, vol. 87(5-6), pages 1199-1218, May.
  24. Raffaele Miniaci & Chiara Monfardini & Guglielmo Weber, 2010. "How does consumption change upon retirement?," Empirical Economics, Springer, vol. 38(2), pages 257-280, April.
  25. Patricia Apps & Ray Rees, 2010. "Family labor supply, taxation and saving in an imperfect capital market," Review of Economics of the Household, Springer, vol. 8(3), pages 297-323, September.
  26. Wilbert van der Klaauw, 2008. "Regression-Discontinuity Analysis: A Survey of Recent Developments in Economics," LABOUR, CEIS, vol. 22(2), pages 219-245, 06.
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