The theory of home production suggests substitutability between market consumption and home production. The current …

We revisit the alleged retirement consumption puzzle. According to the life-cycle theory, foreseeable income reductions … such as those around retirement should not affect consumption. However, we first recall that given higher leisure … endowments after retirement, the theory does predict a fall of total market consumption expenditures. In order not to mistake …

We revisit the alleged retirement consumption puzzle. According to the life-cycle theory, foreseeable income reductions … such as those around retirement should not affect consumption. However, we first recall that given higher leisure … endowments after retirement, the theory does predict a fall of total market consumption expenditures. In order not to mistake …

We revisit the alleged retirement consumption puzzle. According to the life-cycle theory, foreseeable income reductions … such as those around retirement should not affect consumption. However, we first recall that given higher leisure … endowments after retirement, the theory does predict a fall of total market consumption expenditures. In order not to mistake …

than permanent income; habit persistence; and non-separability in preferences over consumption and leisure. The data appear … most consistent with non-separable preferences over consumption and leisure …

supply behavior ; intermittent ; labor market exit ; labor leisure choice model …

(leisure). Our novel design allows to measure whether participants prefer to anticipate or delay gratification, without …-monetary rewards (negative time preferences for leisure). These results cannot be explained by personal timetables and heterogeneous …

/savings, leisure/work and health expenditures), statuses (health, financial and pension wealth) and welfare, allowing for (partially … than expected. Moreover, full insurance, and age-increasing wages would optimally point to more spending and less leisure …