In this work we revisit the retirement consumption puzzle using Italian panel data. As emphasized in the literature, the observed consumption drop might be due to unexpected wealth shocks at retirement, which modify optimal consumption plans. Using an Euler equation approach, we test the impact...

Our paper analyses the observed and desired labour supply by older workers and (recent) retirees in a country (Italy) with limited opportunities for flexible work schedules. To this purpose, we use a dataset drawn from the Bank of Italy's Survey on Household Income and Wealth providing...

Our paper analyses the observed and desired labour supply by older workers and (recent) retirees in a country (Italy) with limited opportunities for flexible work schedules. To this purpose, we use a dataset drawn from the Bank of Italy’s Survey on Household Income and Wealth providing...

We use a Cox-type model to investigate the role of the family as an informal market: parents enjoy their children’s proximity (a proxy for the informal care they can receive from their kids) and “reward” them with an anticipated wealth transfer. Children appreciate the reward, particularly...