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The Retirement-Consumption Puzzle Anticipated and Actual Declines in Spending at Retirement

Citations

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Cited by:

  1. Kevin Huang & Frank Caliendo, 2011. "Rationalizing multiple consumption-saving puzzles in a unified framework," Frontiers of Economics in China, Springer;Higher Education Press, pages 359-388.
  2. Nicole Maestas, 2007. "Back to Work: Expectations and Realizations of Work after Retirement," Working Papers 196.2, RAND Corporation.
  3. Mauro Mastrogiacomo, 2006. "Testing consumers' asymmetric reaction to wealth changes," CPB Discussion Paper 53, CPB Netherlands Bureau for Economic Policy Analysis.
  4. Margherita Borella & Flavia Coda Moscarola & Mariacristina Rossi, 2011. "(Un)Expected Retirement and the Consumption Puzzle," CeRP Working Papers 126, Center for Research on Pensions and Welfare Policies, Turin (Italy).
  5. Guriev, Sergei & Sonin, Konstantin, 2009. "Dictators and oligarchs: A dynamic theory of contested property rights," Journal of Public Economics, Elsevier, vol. 93(1-2), pages 1-13, February.
  6. Aylit Tina Romm, 2012. "Retirement Date Effects on Pre-Retirement Wealth Accumulation: An Analysis of US Households," Working Papers 266, Economic Research Southern Africa.
  7. Thomas Davidoff & Jeffrey R. Brown & Peter A. Diamond, 2005. "Annuities and Individual Welfare," American Economic Review, American Economic Association, pages 1573-1590.
  8. Melanie Lührmann, 2010. "Consumer Expenditures and Home Production at Retirement - New Evidence from Germany," German Economic Review, Verein für Socialpolitik, vol. 11, pages 225-245, May.
  9. John Laitner, 2003. "Labor Supply Responses to Social Security," Working Papers wp050, University of Michigan, Michigan Retirement Research Center.
  10. Yingying Dong, 2011. "Jumpy or Kinky? Regression Discontinuity without the Discontinuity," Working Papers 111207, University of California-Irvine, Department of Economics.
  11. B. Douglas Bernheim & Antonio Rangel, 2005. "Behavioral Public Economics: Welfare and Policy Analysis with Non-Standard Decision-Makers," Discussion Papers 04-033, Stanford Institute for Economic Policy Research.
  12. Garry F. Barrett & Milica Kecmanovic, 2012. "Changes in Subjective Well-being with Retirement: Assessing Savings Adequacy in Australia," Social and Economic Dimensions of an Aging Population Research Papers 296, McMaster University.
  13. Zhou, Y., 2014. "Essays on habit formation and inflation hedging," Other publications TiSEM 4886da12-1b84-4fd9-aa07-3, Tilburg University, School of Economics and Management.
  14. John Karl Scholz & Ananth Seshadri & Surachai Khitatrakun, 2006. "Are Americans Saving "Optimally" for Retirement?," Journal of Political Economy, University of Chicago Press, pages 607-643.
  15. Tim Krieger & Jens Ruhose, 2013. "Honey, I shrunk the kids’ benefits—revisiting intergenerational conflict in OECD countries," Public Choice, Springer, pages 115-143.
  16. Flood, Lennart & Klevmarken, Anders & Mitrut, Andreea, 2006. "The income of the Swedish baby boomers," Working Papers in Economics 209, University of Gothenburg, Department of Economics.
  17. Monika Bütler & Olivia Huguenin & Federica Teppa, 2005. "Why Forcing People to Save Retirement May Backfire," Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) 05.05, Université de Lausanne, Faculté des HEC, DEEP.
  18. Joachim Winter, 2004. "Response bias in survey-based measures of household consumption," Economics Bulletin, AccessEcon, pages 1-12.
  19. Erik Hurst, 2004. "Grasshoppers, Ants and Pre-Retirement Wealth: A Test of Permanent Income Consumers," Working Papers wp088, University of Michigan, Michigan Retirement Research Center.
  20. Hugo Benítez-Silva & Debra Dwyer & Wayne-Roy Gayle & Thomas Muench, 2008. "Expectations in micro data: rationality revisited," Empirical Economics, Springer, pages 381-416.
  21. Matthias Weiss & Alfred Garloff, 2009. "Skill-biased technological change and endogenous benefits: the dynamics of unemployment and wage inequality," Applied Economics, Taylor & Francis Journals, vol. 43(7), pages 811-821.
  22. Imai, Katsushi S. & Gaiha, Raghav & Thapa, Ganesh, 2011. "Supply response to changes in agricultural commodity prices in Asian countries," Journal of Asian Economics, Elsevier, vol. 22(1), pages 61-75, February.
  23. Arnaud Dupuy & Lex Borghans, 2005. "Supply and demand, allocation and wage inequality: an international comparison," Applied Economics, Taylor & Francis Journals, vol. 37(9), pages 1073-1088.
  24. John Laitner & Dan Silverman, 2007. "Life-Cycle Models: Lifetime Earnings and the Timing of Retirement," Working Papers wp165, University of Michigan, Michigan Retirement Research Center.
  25. Richard Dunn, 2015. "Labor supply and household meal production among working adults in the Health and Retirement Survey," Review of Economics of the Household, Springer, pages 437-457.
  26. Hugo Benítez-Silva & Debra S. Dwyer & Wayne-Roy Gayle & Thomas J. Muench, 2003. "Expectations in Micro Data: Rationality Revisited," Working Papers wp059, University of Michigan, Michigan Retirement Research Center.
  27. Yoo-Mi Chin, 2008. "A household production model of demand for childcare and meals: theory and evidence from the Philippines," Review of Economics of the Household, Springer, pages 47-64.
  28. Hugo Benitez-Silva & Debra S. Dwyer & Wayne-Roy Gayle & Tom Muench, 2005. "Expectations in Micro Data: Rationality Revisited," Department of Economics Working Papers 05-04, Stony Brook University, Department of Economics.
  29. Steven J. Haider & Melvin Stephens, 2007. "Is There a Retirement-Consumption Puzzle? Evidence Using Subjective Retirement Expectations," The Review of Economics and Statistics, MIT Press, pages 247-264.
  30. Stephens, Melvin & Unayama, Takashi, 2012. "The impact of retirement on household consumption in Japan," Journal of the Japanese and International Economies, Elsevier, pages 62-83.
  31. Erik Hurst, 2008. "The Retirement of a Consumption Puzzle," NBER Working Papers 13789, National Bureau of Economic Research, Inc.
  32. Benitez-Silva, Hugo & Dwyer, Debra S., 2006. "Expectation formation of older married couples and the rational expectations hypothesis," Labour Economics, Elsevier, pages 191-218.
  33. Bakken, Line Smart, 2006. "The Golden Age of Retirement," Memorandum 22/2006, Oslo University, Department of Economics.
  34. Mark van Duijn & Maarten Lindeboom & Mauro Mastrogiacomo & M. Lundborg, 2009. "Pension plans and the retirement replacement rates in the Netherlands," CPB Discussion Paper 118, CPB Netherlands Bureau for Economic Policy Analysis.
  35. repec:eee:joecag:v:3:y:2014:i:c:p:1-10 is not listed on IDEAS
  36. Hugo Benítez-Silva & Debra S. Dwyer, 2003. "Expectation Formation of Older Married Couples and the Rational Expectations Hypothesis," Working Papers wp062, University of Michigan, Michigan Retirement Research Center.
  37. Karen A. Kopecky, 2011. "The Trend In Retirement," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 52(2), pages 287-316, May.
  38. repec:eee:joecag:v:3:y:2014:i:c:p:21-28 is not listed on IDEAS
  39. Melanie Lührmann, 2005. "Population Aging and the Demand for Goods & Services," MEA discussion paper series 05095, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
  40. Bonsang, Eric & Klein, Tobias J., 2012. "Retirement and subjective well-being," Journal of Economic Behavior & Organization, Elsevier, pages 311-329.
  41. Sule Alan & Thomas Crossley & Hamish Low, 2012. "Saving on a rainy day, borrowing for a rainy day," IFS Working Papers W12/11, Institute for Fiscal Studies.
  42. David M. Blau, 2008. "Retirement and Consumption in a Life Cycle Model," Journal of Labor Economics, University of Chicago Press, vol. 26, pages 35-71.
  43. Miles S. Kimball & Matthew D. Shapiro, 2008. "Labor Supply: Are the Income and Substitution Effects Both Large or Both Small?," NBER Working Papers 14208, National Bureau of Economic Research, Inc.
  44. Mauro Mastrogiacomo & Nicole Bosch, 2006. "Income incentives to labour participation and home production; the contribution of the tax credits in the Netherlands," CPB Discussion Paper 59, CPB Netherlands Bureau for Economic Policy Analysis.
  45. Mark Aguiar & Erik Hurst, 2005. "Consumption versus Expenditure," Journal of Political Economy, University of Chicago Press, pages 919-948.
  46. Birgit Aigner-Walder & Thomas Döring, 2012. "The Effects of Population Ageing on Private Consumption — A Simulation for Austria Based on Household Data up to 2050," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, pages 63-80.
  47. El Mekkaoui de Freitas, Najat & Oliveira Martins, Joaquim, 2014. "Health, pension benefits and longevity: How they affect household savings?," The Journal of the Economics of Ageing, Elsevier, vol. 3(C), pages 21-28.
  48. D'Orlando, Fabio & Ferrante, Francesco, 2009. "The demand for job protection: Some clues from behavioural economics," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(1), pages 104-114, January.
  49. Michael D. Hurd & Susann Rohwedder, 2005. "Changes in Consumption and Activities in Retirement," Working Papers wp096, University of Michigan, Michigan Retirement Research Center.
  50. Javier Polavieja & Lucinda Platt, 2010. "Girls like Pink: Explaining Sex-Typed Occupational Aspirations amongst Young Children," UFAE and IAE Working Papers 844.10, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  51. repec:eee:joecag:v:1-2:y:2013:i::p:60-71 is not listed on IDEAS
  52. Bonsang, Eric & Klein, Tobias J., 2012. "Retirement and subjective well-being," Journal of Economic Behavior & Organization, Elsevier, pages 311-329.
  53. Garry F. Barrett & Matthew Brzozowski, 2010. "Involuntary Retirement and the Resolution of the Retirement-Consumption Puzzle: Evidence from Australia," Social and Economic Dimensions of an Aging Population Research Papers 275, McMaster University.
  54. repec:dau:papers:123456789/12130 is not listed on IDEAS
  55. Chang, Chia-Lin & Franses, Philip Hans & McAleer, Michael, 2011. "How accurate are government forecasts of economic fundamentals? The case of Taiwan," International Journal of Forecasting, Elsevier, pages 1066-1075.
  56. Ahmed Khwaja & Frank Sloan & Sukyung Chung, 2007. "The relationship between individual expectations and behaviors: Mortality expectations and smoking decisions," Journal of Risk and Uncertainty, Springer, vol. 35(2), pages 179-201, October.
  57. John Laitner & Daniel Silverman, 2006. "Consumption, Retirement, and Social Security: Evaluating the Efficiency of Reform with a Life-Cycle Model," Working Papers wp142, University of Michigan, Michigan Retirement Research Center.
  58. John Laitner, 2004. "Precautionary Saving Over the Lifecycle," Working Papers wp083, University of Michigan, Michigan Retirement Research Center.
  59. Francois, Joseph & Rojas-Romagosa, Hugo, 2004. "Trade Policy and the Household Distribution of Income," CEPR Discussion Papers 4436, C.E.P.R. Discussion Papers.
  60. John Laitner & Dan Silverman, 2005. "Estimating Life—Cycle Parameters from Consumption Behavior at Retirement”," Working Papers wp099, University of Michigan, Michigan Retirement Research Center.
  61. Susann Rohwedder, 2006. "Self-Assessed Retirement Outcomes: Determinants and Pathways," Working Papers wp141, University of Michigan, Michigan Retirement Research Center.
  62. Schwerdt, Guido, 2005. "Why does consumption fall at retirement? Evidence from Germany," Economics Letters, Elsevier, pages 300-305.
  63. repec:dau:papers:123456789/2343 is not listed on IDEAS
  64. Alicia Munnell & April Wu, 2013. "Do Older Workers Squeeze Out Younger Workers?," Discussion Papers 13-011, Stanford Institute for Economic Policy Research.
  65. Martin Browning & Thomas F. Crossley & Melanie Lührmann, 2016. "Durable Purchases over the Later Life Cycle," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, pages 145-169.
  66. John Laitner & Dan Silverman, 2005. "Estimating Life—Cycle Parameters from Consumption Behavior at Retirement”," Working Papers wp099, University of Michigan, Michigan Retirement Research Center.
  67. Alessandro Bucciol, 2007. "Life-Cycle Models, Economic Puzzles and Temptation Preferences," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, pages 115-144.
  68. Peine & Ingo Rollwagen & Louis Neven, 2012. "Exploring new patterns of user involvement – baby boomers and the future of consumption," Innovation Studies Utrecht (ISU) working paper series 12-09, Utrecht University, Department of Innovation Studies, revised Sep 2012.
  69. Christopher House & John Laitner & Dmitriy Stolyarov, 2008. "Valuing Lost Home Production Of Dual Earner Couples," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 49(2), pages 701-736, May.
  70. Julien Hugonnier & Florian Pelgrin & Pascal St-Amour, 2009. "Health and (other) Asset Holdings," Swiss Finance Institute Research Paper Series 09-18, Swiss Finance Institute.
  71. repec:ebl:ecbull:v:3:y:2004:i:9:p:1-12 is not listed on IDEAS
  72. Kenneth M. Langa & Sandeep Vijan & Rodney A. Hayward & Michael E. Chernew & Caroline S. Blaum & Mohammed U. Kabeto & David R. Weir & Steven J. Katz & Robert J. Willis & A. Mark Fendrick, 2002. "Informal Caregiving for Diabetes and Diabetic Complications Among Elderly Americans," Journals of Gerontology: Series B, Gerontological Society of America, pages 177-186.
  73. Michael Hurd & Julie Zissimopoulos, 2003. "Saving for Retirement: Wage Growth and Unexpected Events," Working Papers wp045, University of Michigan, Michigan Retirement Research Center.
  74. Monika Bütler & Olivia Huguenin & Federica Teppa, 2005. "Why Forcing People to Save for Retirement may Backfire," CESifo Working Paper Series 1458, CESifo Group Munich.
  75. Borella, Margherita & Fornero, Elsa & Rossi, Mariacristina, 2009. "Does consumption respond to predicted increases in cash-hand availability?: Evidence from the Italian "severance pay"," Economics Letters, Elsevier, pages 127-129.
  76. Andrew Au & Olivia S. Mitchell & John W.R. Phillips, 2005. "Saving Shortfalls and Delayed Retirement," Working Papers wp094, University of Michigan, Michigan Retirement Research Center.
  77. 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, pages 623-637.
  78. van der Heijden, E.C.M. & Koç, E. & Ligthart, J.E. & Meijdam, A.C., 2015. "Pensions and Consumption Decisions: : Evidence From the Lab," Discussion Paper 2015-014, Tilburg University, Center for Economic Research.
  79. Blundell, R. & Browning, M. & Cherchye, L.J.H. & Crawford, I. & de Rock, B. & Vermeulen, F.M.P., 2012. "Sharp for SARP : Nonparametric Bounds on the Behavioural and Welfare Effects of Price Changes," Discussion Paper 2012-065, Tilburg University, Center for Economic Research.
  80. Johanna Wallenius & Richard Rogerson, 2012. "Retirement, Home Production and Labor Supply Elasticities," 2012 Meeting Papers 41, Society for Economic Dynamics.
  81. Julien Hugonnier & Florian Pelgrin, 2013. "Health and (Other) Asset Holdings," Review of Economic Studies, Oxford University Press, vol. 80(2), pages 663-710.
  82. Dong, Yingying, 2010. "Jumpy or Kinky? Regression Discontinuity without the Discontinuity," MPRA Paper 25461, University Library of Munich, Germany.
  83. repec:dau:papers:123456789/9826 is not listed on IDEAS
  84. Titus Galama & Arie Kapteyn & Raquel Fonseca Benito & Pierre-Carl Michaud, 2009. "Grossman's Health Threshold and Retirement," Working Papers 658, RAND Corporation.
  85. Jeremy Clark & Lana Friesen, 2009. "Overconfidence in Forecasts of Own Performance: An Experimental Study," Economic Journal, Royal Economic Society, vol. 119(534), pages 229-251, January.
  86. Nicole Maestas, 2010. "Expectations and Realizations of Work after Retirement," Journal of Human Resources, University of Wisconsin Press.
  87. Kevin X.D. Huang & Frank Caliendo, 2007. "Rationalizing Seven Consumption-Saving Puzzles in a Unified Framework," Vanderbilt University Department of Economics Working Papers 0716, Vanderbilt University Department of Economics.
  88. Margherita Borella & Flavia Coda Moscarola & Mariacristina Rossi, 2014. "(Un)expected retirement and the consumption puzzle," Empirical Economics, Springer, pages 733-751.
  89. Jang, Bong-Gyu & Lee, Ho-Seok, 2016. "Retirement with risk aversion change and borrowing constraints," Finance Research Letters, Elsevier, pages 112-124.
  90. Lührmann, Melanie & Weiss, Matthias, 2010. "The effect of working time and labor force participation on unemployment: A new argument in an old debate," Economic Modelling, Elsevier, pages 67-82.
  91. Almudena Sevilla-Sanz & Maria Jose Luengo-Prado, 2010. "Consumption, Retirement and Life-cycle Prices: Evidence From Spain," Economics Series Working Papers 498, University of Oxford, Department of Economics.
  92. Rogerson, Richard & Wallenius, Johanna, 2016. "Retirement, home production and labor supply elasticities," Journal of Monetary Economics, Elsevier, pages 23-34.
  93. Midori Wakabayashi, 2008. "The retirement consumption puzzle in Japan," Journal of Population Economics, Springer;European Society for Population Economics, pages 983-1005.
  94. Frank Sloan & Lindsey Eldred & Tong Guo & Yanzhi Xu, 2013. "Are people overoptimistic about the effects of heavy drinking?," Journal of Risk and Uncertainty, Springer, vol. 47(1), pages 93-127, August.
  95. D'Orlando, Fabio & Sanfilippo, Eleonora, 2010. "Behavioral foundations for the Keynesian consumption function," Journal of Economic Psychology, Elsevier, pages 1035-1046.
  96. Eric French & John Bailey Jones, 2011. "The Effects of Health Insurance and Self‐Insurance on Retirement Behavior," Econometrica, Econometric Society, pages 693-732.
  97. Susann Rohwedder & Arthur van Soest, 2006. "The Impact of Misperceptions about Social Security on Saving and Well-being," Working Papers wp118, University of Michigan, Michigan Retirement Research Center.
  98. Jeffrey Wenger & Christian E. Weller, 2008. "The Interplay between Labor and Financial Markets: What are the Implications for Defined Contribution Accounts?," Working Papers wp162, Political Economy Research Institute, University of Massachusetts at Amherst.
  99. Fisher, Patti J. & Montalto, Catherine P., 2010. "Effect of saving motives and horizon on saving behaviors," Journal of Economic Psychology, Elsevier, pages 92-105.
  100. Laitner, John & Silverman, Dan, 2012. "Consumption, retirement and social security: Evaluating the efficiency of reform that encourages longer careers," Journal of Public Economics, Elsevier, pages 615-634.
  101. Gabriella Berloffa & Agar Brugiavini & Dino Rizzi, 2006. "Health, Welfare and Inequality," Working Papers 2006_41, Department of Economics, University of Venice "Ca' Foscari".
  102. Christopher House & John Laitner & Dmitriy Stolyarov, 2006. "Home Production by Dual Earner Couples and Consumption During Retirement," Working Papers wp143, University of Michigan, Michigan Retirement Research Center.
  103. Monica Paiella & Andrea Tiseno, 2004. "Stock market optimism and participation cost: a mean-variance estimation," Econometric Society 2004 Latin American Meetings 239, Econometric Society.
  104. Steven J. Haider & Melvin Stephens, 2007. "Is There a Retirement-Consumption Puzzle? Evidence Using Subjective Retirement Expectations," The Review of Economics and Statistics, MIT Press, pages 247-264.
  105. Monika Bütler & Olivia Huguenin & Federica Teppa, 2005. "Why Forcing People to Save for Retirement May Backfire," University of St. Gallen Department of Economics working paper series 2005 2005-09, Department of Economics, University of St. Gallen.
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