Previous research finds a systematic fall in consumption at retirement, even when these retirements are expected, which implies households do not behave as predicted by the lifecycle/ permanent income hypothesis. However, the worker's expected date of retirement is typically predicted using an...

Previous research finds a systematic decrease in consumption at retirement, a finding that is inconsistent with the Life-Cycle/Permanent Income Hypothesis if retirement is an expected event. In this paper, we use workers' subjective beliefs about their retirement dates as an instrument for...

Using 1970, 1980, and 1990 U.S. census data, the author examines the life-cycle patterns of immigrant women's labor force participation. He finds that the cross-sectional approach that has been used in all previous studies leads to a substantial over-estimate of the degree to which immigrant...