Please use this identifier to cite or link to this item: https://hdl.handle.net/10620/16793
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dc.contributor.authorBarrett, Gen
dc.contributor.authorBrzozowski, Men
dc.date.accessioned2019-04-13T03:30:01Zen
dc.date.accessioned2011-04-20T06:14:56Zen
dc.date.available2011-04-20T06:14:56Zen
dc.date.issued2010-10en
dc.identifier.urihttps://hdl.handle.net/10620/16793en
dc.identifier.urihttp://hdl.handle.net/10620/3216en
dc.description.abstractA 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.subjectFinanceen
dc.subjectFinance -- Expenditure and constraints on expenditureen
dc.titleInvoluntary Retirement and the Resolution of the Retirement-Consumption Puzzle: Evidence in Australiaen
dc.typeReports and technical papersen
dc.identifier.urlhttp://www.melbourneinstitute.com/hildaen
dc.identifier.surveyHILDAen
dc.description.institutionSocial and Economic Dimensions of an Aging Populationen
dc.title.reportSocial and Economic Dimensions of an Aging Population Research Paperen
dc.identifier.rishttp://flosse.dss.gov.au//ris.php?id=3470en
dc.description.keywordsRetirementen
dc.description.keywordsConsumption Smoothingen
dc.description.keywordsHousehold expenditureen
dc.description.pages42en
local.identifier.id3470en
dc.identifier.edition275en
dc.subject.dssIncome, wealth and financesen
dc.subject.dssmaincategoryFinanceen
dc.subject.dsssubcategoryExpenditure and constraints on expenditureen
dc.subject.flosseIncome, wealth and financeen
dc.relation.surveyHILDAen
dc.old.surveyvalueHILDAen
item.grantfulltextnone-
item.fulltextNo Fulltext-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.openairetypeReports and technical papers-
item.cerifentitytypePublications-
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