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The Retirement Consumption in Korea: Evidence from the Korean Labor and Income Panel Study

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  • Insook Cho

Abstract

This paper examines the retirement consumption in Korea using the Korean Labor and Income Panel Study. This paper reports a significant post-retirement consumption fall among elderly households. The empirical results of this paper suggest that a reduction in work-related expenses is an important factor to explain the observed post-retirement consumption fall. In addition, this paper finds that the post-retirement consumption growth rate varies depending on each household's pre-retirement wealth level. The findings of this paper provide empirical evidence on retirement consumption in an emerging market with no matured public pension programmes.

Suggested Citation

  • Insook Cho, 2012. "The Retirement Consumption in Korea: Evidence from the Korean Labor and Income Panel Study," Global Economic Review, Taylor & Francis Journals, vol. 41(2), pages 163-187, June.
  • Handle: RePEc:taf:glecrv:v:41:y:2012:i:2:p:163-187
    DOI: 10.1080/1226508X.2012.684472
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    Cited by:

    1. Deng, Tinghe & Chen, Qihui & Bai, Junfei, 2016. "Understanding the Retirement-Consumption Puzzle through the Lens of Food Consumption − Fuzzy Regression-Discontinuity Evidence from Urban China," 2016 Annual Meeting, July 31-August 2, 2016, Boston, Massachusetts 235540, Agricultural and Applied Economics Association.
    2. Deng, Tinghe & Chen, Qihui & Bai, Junfei, 2016. "Understanding the Retirement-Consumption Puzzle through the Lens of Food Consumption − Fuzzy Regression-Discontinuity Evidence from Urban China," 2016 Annual Meeting, July 31-August 2, 2016, Boston, Massachusetts 235535, Agricultural and Applied Economics Association.
    3. Li, Hongbin & Shi, Xinzheng & Wu, Binzhen, 2016. "The retirement consumption puzzle revisited: Evidence from the mandatory retirement policy in China," Journal of Comparative Economics, Elsevier, vol. 44(3), pages 623-637.

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