The objective of the work reported in this paper is to find if the consumption data from the six waves of the Retirement History Survey are consistent with the life cycle hypothesis of consumption and to test the importance of a bequest motive for saving. The 12 data items which are used cover...

This is the first part of a three-part paper on research on the elderly. The objective of the paper is to present issues and research results in three areas: economic status, retirement, and consumption and saving. This part covers background material on demographic change, living arrangements,...