The retirement-consumption puzzle and involuntary early retirement: Evidence from the British Household Panel Survey

Sarah Smith

The Centre for Market and Public Organisation from The Centre for Market and Public Organisation, University of Bristol, UK

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.

Keywords: Retirement; life-cycle model of consumption and saving. (search for similar items in EconPapers)
JEL-codes: D91 J26 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2006-01
New Economics Papers: this item is included in nep-dge
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Citations: View citations in EconPapers (79)

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Related works:
Journal Article: The Retirement-Consumption Puzzle and Involuntary Early Retirement: Evidence from the British Household Panel Survey (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:bri:cmpowp:06/138

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