Previous empirical literature has found a sharp decline in consumption during the first years of retirement, implying that individuals do not save enough for their retirement. This phenomenon is called the retirement consumption puzzle. We find no evidence of the retirement consumption puzzle using panel data from 1980 to 2000. Consumption is defined as nondurable expenditure, a more comprehens...

 Whether or not Americans have a retirement savings plan is a key factor in their outlook about having an affordable retirement. The 2015 RCS by EBRI/Greenwald & Associates finds that the nation’s retirement confidence continues to rebound from the record lows experienced between 2009 and 2013—but this is based on the increasing optimism of those who indicate they and/or their spouse have a re...

 This increased confidence is observed almost exclusively among those with higher household income, but it was also found that confidence was strongly correlated with household participation in a retirement plan (including an individual retirement account (IRA)). Nearly half of workers without a retirement plan were not at all confident about their financial security in retirement, compared wi...

This paper estimates the impact of early retirement on mortality using Dutch administrative micro panel data. An unexpected temporary decrease in the eligibility age for retirement benefits for civil servants is used to instrument the retirement choice. We find that induced early retirement decreased the probability that a man dies within 5 years by 2.6 percentage points. The result is robust t...

www.ecoNomicmobility.org september 2012 As life expectancy increases and retirement income systems evolve, households face an enormous challenge in ensuring a secure retirement. Working more years is often hailed as the best way to increase retirement incomes, especially in the wake of the Great Recession. But some fear that delayed retirement by Baby Boomers reduces the job opportunities for y...

In this paper, we use a novel duration model to study joint retirement in married couples using the Health and Retirement Study. Whereas conventionally used models cannot account for joint retirement, our model admits joint retirement with positive probability and nests the traditional proportional hazards model. In contrast to other statistical models for simultaneous durations, it is based on...

This study investigated the influences of retirement transition, age, and gender on aspects of daily experiences in adults (aged 50-75 years) who stayed working ( n = 138) and who transitioned into retirement ( n = 72). Data derived from the first and second waves of the Daily Diary Study of the National Survey of Midlife in the United States. Participants completed telephone interviews about t...

QUESTIONS UNDER STUDY Despite the importance of the relationship between retirement and health only a limited amount of empirical research has addressed this issue, particularly concerning physical health. This study examines whether retirement has a short-term influence on six health measures. METHODS Using data from the Swiss Household Panel from 1999 to 2003, we perform an ordinal regressi...

Retirement has been viewed either as a transition that is accompanied by psychological distress or as a time of continued, or even enhanced, subject ive we l l -be ing . Ex i s t ing evidence is mixed, with some studies reporting retirement as positively related to well-being and others reporting a negative relationship or none at all. Our research indicates that developmental and social contex...

In Japan, retirement is a gradual process that transpires over a particularly long period of time. Using large scale micro-level datasets from the Survey of Employment of the Elderly compiled by the Japanese government, we provide some stylized facts on the development of retirement behavior since the 1980s and explore factors affecting the individual retirement decision. First, we observed a g...