Consumption expenditure declines sharply at the time of retirement for many households, but the majority maintain a … smooth consumption path. A simple life cycle model with uncertainty about the time of retirement can account for this pattern … consumption expenditure at retirement generated by the model is zero, while the mean is negative, matching the HRS data. However …

Monitoring Survey (RLMS) for 1994-2005. We analyze cross-sectional income and consumption inequality and find that inequality … shocks. The response of consumption to permanent and transitory income shocks becomes weaker later in the sample, consistent …

transitory shocks? The implications for consumption and welfare depend crucially on the answer to this question. We use CEX … repeated cross-section data on consumption and income to decompose idiosyncratic changes in income into predictable life … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in …

retirement spells has been steadily increasing. We estimate the response of retirement timing to variations in unemployment rate …, inflation and housing prices. Flows into both full and partial retirement increase significantly when the unemployment rate … rises. Workers around normal retirement age are especially sensitive to variations in the unemployment rate. Workers who are …

first five waves of the Health and Retirement Study. We also provide model simulations for two widely discussed reform …

employed. Observed covariates including wages and retirement benefits help to explain these patterns, but unobserved …

retirement. The results remain robust when controlling for technological change and work commitment. …

important to include a rich set of observed characteristics in an empirical model for retirement in order to measure the …

This paper analyzes the relationship between immigrants' retirement status and the prevalence of return migration from … conditions the probability of return migration is maximized at retirement. Reduced-form models of retirement status which control … countrymen, particularly amongst men. This link is strongest for those individuals who are at (or near) retirement age and among …

left on the labor market prior to retirement. This short horizon implies a more digressive replacement ratio. However …, there is a sufficiently short distance to retirement for which flat unemployment benefits can be the optimal contract as the … optimal contract that integrates unemployment insurance and retirement pension systems. …