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The Retirement Consumption Puzzle: Evidence from a Regression Discontinuity Approach

Battistin, Erich; Brugiavini, Agar; Rettore, Enrico; … - In: American Economic Review 99 (2009) 5, pp. 2209-26

We investigate the size of the consumption drop at retirement in Italy by exploiting pension eligibility information to … correct for endogenous retirement. We take a regression discontinuity approach and assume that spending would be smooth around … pension eligibility if individuals did not retire. We estimate a 9.8 percent drop associated to retirement. This fall is not …

Persistent link: https://www.econbiz.de/10008596310

Macroeconomic Consequences of Population Aging in the United States: Overview of a National Academy Report

Lee, Ronald D. - In: American Economic Review 104 (2014) 5, pp. 234-39

. Health of the elderly has greatly improved, but disability stagnated after 2000. Retirement age reversed its decline in the … retirement savings and face additional risks including uncertainty about both public and private pensions and health insurance …

Persistent link: https://www.econbiz.de/10010773980

Saving whilst Gambling: An Empirical Analysis of UK Premium Bonds

Tufano, Peter - In: American Economic Review 98 (2008) 2, pp. 321-26

Persistent link: https://www.econbiz.de/10005241229

Consumer Spending and the Economic Stimulus Payments of 2008

Parker, Jonathan A.; Souleles, Nicholas S.; Johnson, … - In: American Economic Review 103 (2013) 6, pp. 2530-53

We measure the change in household spending caused by receipt of the economic stimulus payments of 2008, using questions added to the Consumer Expenditure Survey and variation from the randomized timing of disbursement. Households spent 12-30 percent (depending on specification) of their...

Persistent link: https://www.econbiz.de/10010815517

The Effect of Language on Economic Behavior: Evidence from Savings Rates, Health Behaviors, and Retirement Assets

Chen, M. Keith - In: American Economic Review 103 (2013) 2, pp. 690-731

languages: save more, retire with more wealth, smoke less, practice safer sex, and are less obese. This holds both across …

Persistent link: https://www.econbiz.de/10010815620

Intertemporal Consumption and Credit Constraints: Does Total Expenditure Respond to an Exogenous Shock to Credit?

Leth-Petersen, Søren - In: American Economic Review 100 (2010) 3, pp. 1080-1103

There is continuing controversy over the importance of credit constraints. This paper investigates whether total household expenditure and debt is affected by an exogenous increase in access to credit provided by a credit market reform that enabled Danish house owners to use housing equity as...

Persistent link: https://www.econbiz.de/10008542958

The Effects of Population Aging on the Relationship among Aggregate Consumption, Saving, and Income

Dynan, Karen E.; Edelberg, Wendy; Palumbo, Michael G. - In: American Economic Review 99 (2009) 2, pp. 380-86

Persistent link: https://www.econbiz.de/10004999886

Life Insurance and Household Consumption

Hong, Jay H.; Ríos-Rull, José-Víctor - In: American Economic Review 102 (2012) 7, pp. 3701-30

Using life insurance holdings by age, sex, and marital status, we infer how individuals value consumption in different demographic stages. We estimate equivalence scales and bequest motives simultaneously within a fully specified model where agents face US demographics and save and purchase life...

Persistent link: https://www.econbiz.de/10011129967

Consumption and Debt Response to Unanticipated Income Shocks: Evidence from a Natural Experiment in Singapore

Agarwal, Sumit; Qian, Wenlan - In: American Economic Review 104 (2014) 12, pp. 4205-30

This paper uses a unique panel dataset of consumer financial transactions to study how consumers respond to an exogenous unanticipated income shock. Consumption rose significantly after the fiscal policy announcement: during the ten subsequent months, for each $1 received, consumers on average...

Persistent link: https://www.econbiz.de/10011093398

The Response of Household Saving to the Large Shock of German Reunification

Fuchs-Schundeln, Nicola - In: American Economic Review 98 (2008) 5, pp. 1798-1828

German reunification was a large, unexpected shock for East Germans. Exploiting German reunification as a natural experiment, I analyze the validity of the life-cycle consumption model. I derive three stylized features concerning the saving behavior of East versus West Germans after...

Persistent link: https://www.econbiz.de/10005761587

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