This paper provides a critical survey of the large literature on the life cycle model of
consumption, both from an empirical and a theoretical point of view. It discusses several …

We investigate the size of the consumption drop at retirement in Italy by exploiting pension
eligibility information to correct for endogenous retirement. We take a regression …

Recessions appear to be times when the marginal rate of substitution between goods and
workers' time falls below the marginal product of labor. If so, the allocation of workers' time is …

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 …

The simple one-good model of life-cycle consumption requires that consumption be
continuous over retirement; yet prior research based on partial measures of consumption or …

This paper examines the distribution of income and consumption in the US using one
dataset that obtains measures of both income and consumption from the same set of …

The simple one-good model of life-cycle consumption requires that consumption be
continuous over retirement; yet prior research based on partial measures of consumption or …

The simple one-good model of life-cycle consumption requires" consumption smoothing."
According to previous results based on partial spending and on synthetic panels, British and …

Objectives. The home is both older Americans' largest asset and their largest consumption
good. This article employs new data on the consumption and assets of older Americans to …

Retirement income research and financial planning tools generally assume that retiree
expenditures, or consumption, increase annually by inflation during retirement. This …