Replication data for: The Retirement Consumption Puzzle: Evidence from a Regression Discontinuity Approach
Principal Investigator(s): View help for Principal Investigator(s) Erich Battistin; Agar Brugiavini; Enrico Rettore; Guglielmo Weber
Version: View help for Version V1
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Project Citation:
Battistin, Erich, Brugiavini, Agar, Rettore, Enrico, and Weber, Guglielmo. Replication data for: The Retirement Consumption Puzzle: Evidence from a Regression Discontinuity Approach. Nashville, TN: American Economic Association [publisher], 2009. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113349V1
Project Description
Summary:
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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 discontinuity approach and assume that spending would be smooth around pension eligibility if individuals did not retire. We estimate a 9.8 percent drop associated to retirement. This fall is not driven by liquidity problems for the less well off and can be accounted for by drops in work-related expenses. Retirement also induces a significant drop in the number of grown children living with their parents and this explains most of the retirement consumption drop. (JEL D91, E21, J26, J31)
Scope of Project
JEL Classification:
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D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
E21 Macroeconomics: Consumption; Saving; Wealth
J26 Retirement; Retirement Policies
J32 Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
D91 Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
E21 Macroeconomics: Consumption; Saving; Wealth
J26 Retirement; Retirement Policies
J32 Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions
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