| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w10257 |
| 来源ID | Working Paper 10257 |
| Is There a Retirement-Consumption Puzzle? Evidence Using Subjective Retirement Expectations | |
| Steven Haider; Melvin Stephens Jr. | |
| 发表日期 | 2004-02-02 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | Previous research finds a systematic decrease in consumption at retirement, a finding that is inconsistent with the Life-Cycle/Permanent Income Hypothesis if retirement is an expected event. In this paper, we use workers' subjective beliefs about their retirement dates as an instrument for retirement. After demonstrating that subjective retirement expectations are strong predictors of subsequent retirement decisions, we still find a retirement consumption decline for workers who retire when expected. However, our estimates of this consumption fall are about a third less than those found when we instead rely on the instrumental variables strategy used in prior studies. Finally, we examine a number of hypotheses that have been put forward to explain the retirement consumption decline. We find little empirical support for these explanations in our data. |
| 主题 | Microeconomics ; Economics of Information ; Behavioral Economics |
| URL | https://www.nber.org/papers/w10257 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/567886 |
| 推荐引用方式 GB/T 7714 | Steven Haider,Melvin Stephens Jr.. Is There a Retirement-Consumption Puzzle? Evidence Using Subjective Retirement Expectations. 2004. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w10257.pdf（429KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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