Borella, Margherita; Moscarola, Flavia Coda; Rossi, … - In: Empirical Economics 47 (2014) 2, pp. 733-751
In this work we revisit the retirement consumption puzzle using Italian panel data. As emphasised 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...