Consumption, Retirement And Life-Cycle Prices: Evidence From Spain

Evidence from several countries reveals a substantial drop in household consumption around retirement age that some researchers believe is difficult to reconcile with standard life-cycle models. Using detailed expenditure data from a Spanish panel survey, the authors find no evidence of a consumption-retirement puzzle in Spain for the period of 1985 - 2004. However, they find a drop in food expenditure at home from 1998 to 2004 and evidence on households paying lower prices for the food they purchase after retirement in this latter period.

Provided by: IMDEA Topic: Software Date Added: Aug 2010 Format: PDF

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