Previous empirical literature has found a sharp decline in consumption during the first years of retirement implying … that individuals do not save enough for their retirement. This phenomenon has been called the retirement consumption puzzle …. In contrast to some of the previous studies, the authors find no evidence of the retirement consumption puzzle during the …

based on partial spending and on synthetic panels, British and U.S. households apparently reduce consumption at retirement …. The reduction cannot be explained by the simple one-good life-cycle model, so it has been referred to as the retirement-consumption … anticipated prior to retirement, and as a consequence reduce consumption. This interpretation challenges the life-cycle model …

Earlier literature has investigated the drop in household consumption upon retirement of the head of the household, the … so-called "retirement consumption puzzle". Here, we expand on these studies by considering also retirement of the wife … approach to estimate the effect of each partner's retirement on household consumption. We use for the analysis data drawn from …