Changes in Consumption at Retirement

  title={Changes in Consumption at Retirement},
  author={Orazio Attanasio and Costas Meghir},
Previous empirical literature has found a sharp decline in consumption during the …rst years of retirement implying that individuals do not save enough for their retirement. This phenomenon is called the retirement consumption puzzle. In contrast to some of the previous studies, we …nd no evidence of the retirement consumption puzzle. Consumption is de…ned as nondurable expenditure, a more comprehensive measure than only food used in many of the previous studies. Food expenditure at retirement… CONTINUE READING