June 1, 2006
This article uses data from the British Household Panel Survey (BHPS) to shed further light on the fall in consumption at retirement (the .retirement-consumption puzzle.). Comparing food spending of men retiring involuntarily early (through ill health or redundancy) with spending of men who retire voluntarily, it finds a significant fall in spending only for those who retire involuntarily. This is consistent with the observed fall in spending being linked to a negative wealth shock for some retirees.
Volume: 116 (510):130-148
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