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https://hdl.handle.net/10620/16793
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DC Field | Value | Language |
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dc.contributor.author | Barrett, G | en |
dc.contributor.author | Brzozowski, M | en |
dc.date.accessioned | 2019-04-13T03:30:01Z | en |
dc.date.accessioned | 2011-04-20T06:14:56Z | en |
dc.date.available | 2011-04-20T06:14:56Z | en |
dc.date.issued | 2010-10 | en |
dc.identifier.uri | https://hdl.handle.net/10620/16793 | en |
dc.identifier.uri | http://hdl.handle.net/10620/3216 | en |
dc.description.abstract | A substantial body of international research has shown that household expenditure on food and non-durables signicantly decreases at the time of retirement a finding that is inconsistent with the standard life-cycle model of consumption if retirement is an anticipated event. This fall in expenditure has become known as the `retirement- consumption puzzle.' We analyze rich Australian panel data to assess the Australian evidence on the puzzle. We nd strong evidence of a fall in expenditures on groceries, food consumed at home and outside meals with retirement. The observed decline in expenditure is explained by a subset of households experiencing an unanticipated wealth shock, such as a major health event or long-term job loss, at the time of retirement. This nding is corroborated by an analysis of alternative measures of household well-being, including indicators of nancial hardship, and self-reported nancial and life satisfaction. For the majority of households retirement is anticipated and there is no decline in economic welfare at retirement. However, for an important minority, retirement is `involuntary' and these households experience a marked decline across all indicators of economic well-being. | en |
dc.subject | Finance | en |
dc.subject | Finance -- Expenditure and constraints on expenditure | en |
dc.title | Involuntary Retirement and the Resolution of the Retirement-Consumption Puzzle: Evidence in Australia | en |
dc.type | Reports and technical papers | en |
dc.identifier.url | http://www.melbourneinstitute.com/hilda | en |
dc.identifier.survey | HILDA | en |
dc.description.institution | Social and Economic Dimensions of an Aging Population | en |
dc.title.report | Social and Economic Dimensions of an Aging Population Research Paper | en |
dc.identifier.ris | http://flosse.dss.gov.au//ris.php?id=3470 | en |
dc.description.keywords | Retirement | en |
dc.description.keywords | Consumption Smoothing | en |
dc.description.keywords | Household expenditure | en |
dc.description.pages | 42 | en |
local.identifier.id | 3470 | en |
dc.identifier.edition | 275 | en |
dc.subject.dss | Income, wealth and finances | en |
dc.subject.dssmaincategory | Finance | en |
dc.subject.dsssubcategory | Expenditure and constraints on expenditure | en |
dc.subject.flosse | Income, wealth and finance | en |
dc.relation.survey | HILDA | en |
dc.old.surveyvalue | HILDA | en |
item.grantfulltext | none | - |
item.fulltext | No Fulltext | - |
item.openairecristype | http://purl.org/coar/resource_type/c_18cf | - |
item.openairetype | Reports and technical papers | - |
item.cerifentitytype | Publications | - |
Appears in Collections: | Reports |
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