| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29826 |
| 来源ID | Working Paper 29826 |
| Consumption and Saving after Retirement | |
| Bent Jesper Christensen; Malene Kallestrup-Lamb; John Kennan | |
| 发表日期 | 2022-03-14 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | The paper analyzes consumption decisions of retired workers, using Danish register data. A major puzzle, which motivates much of the analysis below, is that wealth actually increases for a large fraction of the people in our data. One would expect that wealth accumulated before retirement would be used to augment consumption in later life, with the implication that wealth should decline over time. The risk of large out-of-pocket medical expenditures is negligible in Denmark, so although explanations associated with such expenditures might explain similar patterns in U.S. data, these explanations are not plausible for Denmark (and therefore also questionable for the U.S.). Our analysis instead attempts to explain wealth paths using a model that emphasizes fluctuations in the marginal utility of consumption. The results show that a latent state variable extension of the standard life-cycle consumption model is quite successful in explaining the curious observed wealth patterns after retirement for singles. |
| 主题 | Macroeconomics ; Consumption and Investment ; Labor Economics ; Labor Supply and Demand |
| URL | https://www.nber.org/papers/w29826 |
| 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/587499 |
| 推荐引用方式 GB/T 7714 | Bent Jesper Christensen,Malene Kallestrup-Lamb,John Kennan. Consumption and Saving after Retirement. 2022. |
| 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 | ||
| w29826.pdf（909KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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