Food Expenditure and Involuntary Retirement: Resolving the Retirement-Consumption Puzzle

被引：21

作者：

Barrett, Garry F. ^{[1
]}

Brzozowski, Matthew ^{[2
]}

机构：

[1] Univ Sydney, Sch Econ, Sydney, NSW 2006, Australia

[2] York Univ, Dept Econ, Toronto, ON M3J 2R7, Canada

来源：

AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS | 2012年 / 94卷 / 04期

基金：

澳大利亚研究理事会;

关键词：

Consumption Smoothing; Food Expenditure; Retirement; D91; I31; J26;

D O I：

10.1093/ajae/aas030

中图分类号：

F3 [农业经济];

学科分类号：

0202 ; 020205 ; 1203 ;

摘要：

International research has shown that household expenditure on nondurables significantly decreases at retirement - a finding that is inconsistent with the standard life-cycle model of consumption if retirement is anticipated. We analyze Australian panel data and find that the decline in grocery and food expenditure is explained by households forced to retire earlier than planned due to a health event or job-loss, which represent unanticipated wealth shocks. For most households retirement is anticipated and there is no decline in basic expenditures. However, for an important minority, retirement is 'involuntary' and these households experience a marked decline across the basic expenditure categories.

引用

页码：945 / 955

页数：11

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