Home > Publications . Search All . Browse All . Country . Browse PSC Pubs . PSC Report Series

PSC In The News

RSS Feed icon

COSSA makes 10 suggestions to next Administration for supporting and using social science research

Thompson says US prison population is 'staggeringly high' at about 1.5 million, despite 2% drop for 2015

Levy et al. find Michigan's Medicaid expansion boosted state's economy while increasing number of insured

More News

Highlights

2017 PAA Annual Meeting, April 27-29, Chicago

NIH funding opportunity: Etiology of Health Disparities and Health Advantages among Immigrant Populations (R01 and R21), open Jan 2017

Russell Sage 2017 Summer Institute in Computational Social Science, June 18-July 1. Application deadline Feb 17.

Russell Sage 2-week workshop on social science genomics, June 11-23, 2017, Santa Barbara

More Highlights

Next Brown Bag

Mon, Jan 23, 2017 at noon:
Decline of cash assistance and child well-being, Luke Shaefer

Is there a retirement-consumption puzzle? Evidence using subjective retirement expectations

Publication Abstract

Haider, Steven J., and Melvin Stephens. 2007. "Is there a retirement-consumption puzzle? Evidence using subjective retirement expectations." Review of Economics and Statistics, 89(2): 247-269.

Previous research finds a systematic decrease in consumption at retirement, a finding that is inconsistent with the life cycle/permanent income hypothesis if retirement is an expected event. In this paper, we use workers' subjective beliefs about their retirement dates as an instrument for retirement. After demonstrating that subjective retirement expectations are strong predictors of subsequent retirement decisions, we still find a consumption decline at retirement for workers who retire when expected. However, our estimates of this consumption fall are about a third less than those found when we instead rely on the instrumental variables strategy used in prior studies.

DOI:10.1162/rest.89.2.247 (Full Text)

Licensed Access Link

Browse | Search : All Pubs | Next