Orazio Attanasio
Datos Biográficos
| ID | 979164 |
|---|---|
| NOMBRE | Orazio Attanasio |
| NOMBRES | Orazio |
| APELLIDO | Attanasio |
| FIRMA | ATTANASIO O |
| AFILIACIONES | Institute for Fiscal Studies |
| ORCID | 0000-0003-3693-4393 |
| VERIFICADO | Sí |
| TOTAL DE OBRAS | 49 |
| TOTAL DE CITAS | 340 |
| TOTAL COMO AUTOR | 49 |
| TOTAL COMO EDITOR | 0 |
| PRIMER AÑO DE PUBLICACIÓN | 1989 |
| AÑO MÁS RECIENTE DE PUBLICACIÓN | 2024 |
| ÍNDICE H | 11 |
Growing apart
Mothers' Social Networks and Socioeconomic Gradients of Isolation
Social connections are fundamental to human well-being. We examine the social networks of mothers of young children in rural Odisha, India. Gendered norms around marriage, mobility, and work likely shape this group’s opportunities to form and maintain ties. We track 2, 170 mothers’ networks over 4 years and find a high degree of isolation. Wealthier women and women from more-advantaged castes and tribes have smaller networks than their less-advan…
Targeting High School Scholarships to the Poor
On the basis of a randomized controlled trial, we evaluate a scholarship program in Mexico, Programa de Becas Educación Media Superior (PROBEMS), aimed at improving graduation rates and test scores among upper secondary school students from poor backgrounds. We find that, on average, the program has no effect on either graduation rates or math and Spanish test scores. We point to two possible reasons for this failure: (i) the program was badly ta…
Parental investment, school choice, and the persistent benefits of an early childhood intervention
We present evidence from a randomised experiment testing the impacts of a six-month early childhood home-visiting program on child outcomes and parental investment behaviour at school entry. Two and a half years after completion of the program, we find large persistent effects on parental investment at home, as well as large effects on preschool enrolment. Children in treatment villages were enrolled earlier and in higher quality preschools, the …
Preschool Quality and Child Development
The effect of gender-targeted conditional cash transfers on household expenditures
This paper studies the differential effect of targeting cash transfers to men or women on the structure of household expenditures on non-durables. We study a policy intervention in the Republic of Macedonia, offering cash transfers to poor households, conditional on having their children attending secondary school. The recipient of the transfer is randomized across municipalities, with payments targeted to either the mother or the father of the c…
The Future of Parenting Programs
This article examines the role that implementation science can play in evidence-based parenting programs. Although parenting programs can support parents in their caregiving roles, adapting and taking an evidence-based approach from one place to another without attending to implementation factors may contribute to poor impact in a new setting. Implementation science enables researchers to move beyond monitoring and evaluation of outcomes of a par…
Estimating the Production Function for Human Capital
We examine the channels through which a randomized early childhood intervention in Colombia led to significant gains in cognitive and socio-emotional skills among a sample of disadvantaged children aged 12 to 24 months at baseline. We estimate the determinants of parents’ material and time investments in these children and evaluate the impact of the treatment on such investments. We then estimate the production functions for cognitive and socio-e…
From Quantity to Quality
A key challenge in developing countries interested in providing early childhood development (ECD) programmes at scale is whether these programmes can be effectively delivered through existing public service infrastructures. We present the results of a randomised experiment evaluating the effects of a home-based parenting programme delivered by cadres in China’s Family Planning Commission (FPC)—the former enforcers of the one-child policy. We find…
The Effect of Gender-Targeted Conditional Cash Transfers on Household Expenditures
This article studies the differential effect of targeting cash transfers to men or women on household expenditure on non-durables. We study a policy intervention in the Republic of North Macedonia that offers cash transfers to poor households, conditional on having their children attending secondary school. The recipient is randomised across municipalities, with payments targeted to either the mother or the father of the child. Targeting transfer…
Euler Equations, Subjective Expectations and Income Shocks
In this paper, we make three substantive contributions. First, we use elicited subjective income expectations to identify the levels of permanent and transitory income shocks in a lifecycle framework. Second, we use these shocks to assess whether households’ consumption is insulated from them. Third, we use the shock data to estimate an Euler equation for consumption. We find that households are able to smooth transitory shocks, but adjust their …
The effects of the transition from home-based childcare to childcare centers on children’s health and development in Colombia
Colombia's national early childhood strategy launched in 2011 aimed at improving the quality of childcare services offered to socio-economically vulnerable children, and included the possibility that children and their childcare providers could transfer from non-parental family daycare units to large childcare centers in urban areas. This study seeks to understand whether the offer to transfer and the actual transfer from one program to the other…
Measuring and Changing Control
This paper studies how targeted cash transfers to women affect their empowerment. We use a novel identification strategy to measure women's willingness to pay to receive cash transfers instead of their partner receiving it. We apply this among women living in poor households in urban Macedonia. We match experimental data with a unique policy intervention (CCT) in Macedonia offering poor households cash transfers conditional on having their childr…
Holy Cows or Cash Cows? The Economic Return to Livestock in Rural India
This paper revisits recent claims that poor households owning cattle in developing countries settings do not behave according to the tenets of capitalism. We point out that the discussion was based on evidence from one single year only, while cows and buffalos are assets whose return varies through time. In drought years, when fodder is scarce and more expensive, milk production is lower and profits are low. In nondrought years, when fodder is ab…
Why is multiple micronutrient powder ineffective at reducing anaemia among 12–24 month olds in Colombia? Evidence from a randomised controlled trial
In Colombia's bottom socio-economic strata, 46.6% of children under two are anaemic. A prevalence of above 20% falls within the WHO guidelines for daily supplementation with multiple micronutrient powder (MNP). To evaluate the effect of daily MNP supplementation on anaemia amongst Colombian children aged 12-24 months we ran a cluster RCT ( n =1440). In previous work, we found the intervention had no impact on haemoglobin or anaemia in this popula…
Subjective Expectations and Income Processes in Rural India
This paper uses unique primary data on directly elicited individual subjective expectations to analyse and characterize the process that generates the income of poor, rural Indian households. We validate and use responses to subjective expectations questions and a parametric assumption to fit a household‐specific probability distribution for future income. Combining computed moments from this distribution with data for actual current income, we s…
Consumption Inequality
In this essay, we discuss the importance of consumption inequality in the debate concerning the measurement of disparities in economic well-being. We summarize the advantages and disadvantages of using consumption as opposed to income for measuring trends in economic well-being. We critically evaluate the available evidence on these trends, and in particular discuss how the literature has evolved in its assessment of whether consumption inequalit…
Frank Ramsey's a Mathematical Theory of Saving
Ramsey, F.P. (1928). 'A mathematical theory of saving', Economic Journal, vol. 38(152), pp. 543–59
Using the infrastructure of a conditional cash transfer program to deliver a scalable integrated early child development program in Colombia
OBJECTIVE: To assess the effectiveness of an integrated early child development intervention, combining stimulation and micronutrient supplementation and delivered on a large scale in Colombia, for children's development, growth, and hemoglobin levels. DESIGN: Cluster randomized controlled trial, using a 2 × 2 factorial design, with municipalities assigned to one of four groups: psychosocial stimulation, micronutrient supplementation, combined in…
Education choices and returns to schooling
Efficient Responses to Targeted Cash Transfers
We estimate and test the restrictions of a collective model of household consumption, using z-conditional demands, in the context of a large conditional cash transfer program in rural Mexico. The model can explain the impacts of the program on the structure of food consumption. We use two plausible and novel distribution factors: the random allocation of a cash transfer to women and the relative size and wealth of the husband's and wife's family …
Welfare consequences of food prices increases
This paper presents an analysis of the welfare consequences of recent increases in food prices in Mexico using micro-level data. We estimate a QUAIDS model of demand for food, using data collected to evaluate the conditional cash transfer program Oportunidades. We show how the poor have been affected by the recent increases and changes in relative prices of foods. We also show how a conditional cash transfer program provides a means of alleviatin…
Community Nurseries and the Nutritional Status of Poor Children. Evidence from Colombia
We use two different data sets and three different instruments to estimate the impact of a long‐established pre‐school nursery programme on children's nutritional status. We use variables related to cost (fee, distance to the nursery) and programme availability (capacity of the programme in the town) as instruments. One of our data sets is representative of very poor individuals living in rural areas of Colombia, while the other focuses in urban …
Food and Cash Transfers
We study food Engel curves amongst the poor population targeted by a conditional cash transfer programme in Colombia. After controlling for the endogeneity of total consumption and for the price variability across villages, our estimates imply that an increase in consumption by 10% would lead to a decrease of 1% in the share of food. However, quasi-experimental estimates of the impact of the programme show that the share of food increases. This r…
Subsidizing Vocational Training for Disadvantaged Youth in Colombia
This paper evaluates the impact of a randomized training program for disadvantaged youth introduced in Colombia in 2005. This randomized trial offers a unique opportunity to examine the impact of training in a middle income country. We use originally collected data on individuals randomly offered and not offered training. The program raises earnings and employment for women. Women offered training earn 19.6 percent more and have a 0.068 higher pr…
Is Consumption Growth Consistent with Intertemporal Optimization? Evidence from the Consumer Expenditure Survey
In this paper, the authors show that some of the predictions of models of consumer intertemporal optimization are in line with the patterns of nondurable expenditure observed in U.S. household-level data. They propose a flexible specification of preferences that allows multiple commodities and yields empirically tractable equations. The authors estimate preference parameters using the only U.S. micro data set with complete consumption information…
Trade reforms and wage inequality in Colombia
Efficient Responses to Targeted Cash Transfers
We estimate and test the restrictions of a collective model of household consumption, using z-conditional demands, in the context of a large conditional cash transfer program in rural Mexico. The model can explain the impacts of the program on the structure of food consumption. We use two plausible and novel distribution factors: the random allocation of a cash transfer to women and the relative size and wealth of the husband's and wife's family …
Booms and Busts
Over much of the past 25 years, house price and consumption growth have been closely synchronized. Three main hypotheses for this have been proposed: increases in house prices raise household wealth and so their consumption; house price growth reduces credit constraints by increasing the collateral available to homeowners; and house prices and consumption are together influenced by common factors. Using microeconomic data, we find that the relati…
Relative Wage Movements and the Distribution of Consumption
The authors analyze how relative wage movements among birth cohorts and education groups affected the distribution of household consumption and economic welfare. Their empirical work draws on the best available cross-sectional data sets to construct synthetic panel data on U.S. consumption, labor supply, and wages during the 1980s. The authors find that low-frequency movements in the cohort-education structure of pretax hourly wages among men dro…
The Effect of Gender-Targeted Conditional Cash Transfers on Household Expenditures
This article studies the differential effect of targeting cash transfers to men or women on household expenditure on non-durables. We study a policy intervention in the Republic of North Macedonia that offers cash transfers to poor households, conditional on having their children attending secondary school. The recipient is randomised across municipalities, with payments targeted to either the mother or the father of the child. Targeting transfer…
Education choices and returns to schooling
Food and Cash Transfers
We study food Engel curves amongst the poor population targeted by a conditional cash transfer programme in Colombia. After controlling for the endogeneity of total consumption and for the price variability across villages, our estimates imply that an increase in consumption by 10% would lead to a decrease of 1% in the share of food. However, quasi-experimental estimates of the impact of the programme show that the share of food increases. This r…
The UK Consumption Boom of the Late 1980s
Journal Article The UK Consumption Boom of the Late 1980s: Aggregate Implications of Microeconomic Evidence Get access Orazio P. Attanasio, Orazio P. Attanasio Stanford University, University of Bologna, NBER and IFS Search for other works by this author on: Oxford Academic Google Scholar Guglielmo Weber Guglielmo Weber University of Venice and IFS Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volu…
From Quantity to Quality
A key challenge in developing countries interested in providing early childhood development (ECD) programmes at scale is whether these programmes can be effectively delivered through existing public service infrastructures. We present the results of a randomised experiment evaluating the effects of a home-based parenting programme delivered by cadres in China’s Family Planning Commission (FPC)—the former enforcers of the one-child policy. We find…
Children's Schooling and Work in the Presence of a Conditional Cash Transfer Program in Rural Colombia
The paper studies the effects of Familias en Acción, a conditional cash transfer program implemented in rural areas in Colombia since 2002, on school enrollment and child labor. Using a difference‐in‐difference framework, our results show that the program increased school participation of 14–17‐year‐old children quite substantially, by between 5 and 7 percentage points and had lower effects on the enrollment of younger children, in the region of …
Consumption Inequality
In this essay, we discuss the importance of consumption inequality in the debate concerning the measurement of disparities in economic well-being. We summarize the advantages and disadvantages of using consumption as opposed to income for measuring trends in economic well-being. We critically evaluate the available evidence on these trends, and in particular discuss how the literature has evolved in its assessment of whether consumption inequalit…
Community Nurseries and the Nutritional Status of Poor Children. Evidence from Colombia
We use two different data sets and three different instruments to estimate the impact of a long‐established pre‐school nursery programme on children's nutritional status. We use variables related to cost (fee, distance to the nursery) and programme availability (capacity of the programme in the town) as instruments. One of our data sets is representative of very poor individuals living in rural areas of Colombia, while the other focuses in urban …
Limited commitment and crowding out of private transfers
This paper studies some empirical implications of models with limited risk sharing due to the imperfect enforceability of contracts. We test whether the amount by which public transfers reduce private transfers is affected by features of the economy, such as the variance of income and its persistence. These implications are unique to models with imperfect enforceability. We use data from Mexico collected to evaluate a public transfer programme. I…
Intertemporal Substitution, Risk Aversion and the Euler Equation for Consumption
Journal Article Intertemporal Substitution, Risk Aversion and the Euler Equation for Consumption Get access Orazio P. Attanasio, Orazio P. Attanasio London School of Economics Search for other works by this author on: Oxford Academic Google Scholar Guglielmo Weber Guglielmo Weber University College London Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 99, Issue 395, 1 April 1989, Pages 59–73,…
Welfare consequences of food prices increases
This paper presents an analysis of the welfare consequences of recent increases in food prices in Mexico using micro-level data. We estimate a QUAIDS model of demand for food, using data collected to evaluate the conditional cash transfer program Oportunidades. We show how the poor have been affected by the recent increases and changes in relative prices of foods. We also show how a conditional cash transfer program provides a means of alleviatin…
Measuring and Changing Control
This paper studies how targeted cash transfers to women affect their empowerment. We use a novel identification strategy to measure women's willingness to pay to receive cash transfers instead of their partner receiving it. We apply this among women living in poor households in urban Macedonia. We match experimental data with a unique policy intervention (CCT) in Macedonia offering poor households cash transfers conditional on having their childr…
Wage shocks and consumption variability in Mexico during the 1990s
From Earnings Inequality to Consumption Inequality
This paper studies the paths from inequality in earnings to inequality in household consumption. We show that careful study of the evolution of the variances and covariances of earnings and consumption within cohorts across time can identify permanent and transitory shocks. We present an application to the evolution of inequality in the United Kingdom. We extend previous results to recognise separate earnings of partners in couples
Asset Holding and Consumption Volatility
We investigate the possibility that limited participation in asset markets, and the stock market in particular, might explain the lack of correspondence between the sample moments of the intertemporal marginal rate of substitution and asset returns in U.K. data. We estimate ownership probabilities to separate "likely" shareholders from nonshareholders, enabling us to control for changing composition effects as well as selection into the group. We…
Holy Cows or Cash Cows? The Economic Return to Livestock in Rural India
This paper revisits recent claims that poor households owning cattle in developing countries settings do not behave according to the tenets of capitalism. We point out that the discussion was based on evidence from one single year only, while cows and buffalos are assets whose return varies through time. In drought years, when fodder is scarce and more expensive, milk production is lower and profits are low. In nondrought years, when fodder is ab…
Parental investment, school choice, and the persistent benefits of an early childhood intervention
We present evidence from a randomised experiment testing the impacts of a six-month early childhood home-visiting program on child outcomes and parental investment behaviour at school entry. Two and a half years after completion of the program, we find large persistent effects on parental investment at home, as well as large effects on preschool enrolment. Children in treatment villages were enrolled earlier and in higher quality preschools, the …
The Future of Parenting Programs
This article examines the role that implementation science can play in evidence-based parenting programs. Although parenting programs can support parents in their caregiving roles, adapting and taking an evidence-based approach from one place to another without attending to implementation factors may contribute to poor impact in a new setting. Implementation science enables researchers to move beyond monitoring and evaluation of outcomes of a par…
The effects of the transition from home-based childcare to childcare centers on children’s health and development in Colombia
Colombia's national early childhood strategy launched in 2011 aimed at improving the quality of childcare services offered to socio-economically vulnerable children, and included the possibility that children and their childcare providers could transfer from non-parental family daycare units to large childcare centers in urban areas. This study seeks to understand whether the offer to transfer and the actual transfer from one program to the other…
Oportunidades
In this paper we estimate the effect of the Mexican conditional cash transfer program, Oportunidades, on consumption, and we explore some issues related to participation in the program and to the estimation of treatment effects. We discuss the comparability of treatment and control areas, provide evidence that the expected transfer may not be sufficiently high to induce many eligible households to participate, and find positive effects on consump…
Intertemporal Substitution, Risk Aversion and the Euler Equation for Consumption
Journal Article Intertemporal Substitution, Risk Aversion and the Euler Equation for Consumption Get access Orazio P. Attanasio, Orazio P. Attanasio London School of Economics Search for other works by this author on: Oxford Academic Google Scholar Guglielmo Weber Guglielmo Weber University College London Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 99, Issue 395, 1 April 1989, Pages 59–73,…
The UK Consumption Boom of the Late 1980s
Journal Article The UK Consumption Boom of the Late 1980s: Aggregate Implications of Microeconomic Evidence Get access Orazio P. Attanasio, Orazio P. Attanasio Stanford University, University of Bologna, NBER and IFS Search for other works by this author on: Oxford Academic Google Scholar Guglielmo Weber Guglielmo Weber University of Venice and IFS Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volu…
Is Consumption Growth Consistent with Intertemporal Optimization? Evidence from the Consumer Expenditure Survey
In this paper, the authors show that some of the predictions of models of consumer intertemporal optimization are in line with the patterns of nondurable expenditure observed in U.S. household-level data. They propose a flexible specification of preferences that allows multiple commodities and yields empirically tractable equations. The authors estimate preference parameters using the only U.S. micro data set with complete consumption information…
On the Aggregation of Euler Equations for Consumption in Simple Overlapping-Generations Models
If consumers have finite lives, the aggregate consumption growth equation is affected by entries and exits (births and deaths). We use two- and three-period overlapping-generations (OLG) models to show that entries and exits produce a relationship between aggregate consumption growth and the interest rate that is fundamentally different from the individual Euler equation for consumption. If aggregate data are used to estimate an 'aggregate' Euler…
Relative Wage Movements and the Distribution of Consumption
The authors analyze how relative wage movements among birth cohorts and education groups affected the distribution of household consumption and economic welfare. Their empirical work draws on the best available cross-sectional data sets to construct synthetic panel data on U.S. consumption, labor supply, and wages during the 1980s. The authors find that low-frequency movements in the cohort-education structure of pretax hourly wages among men dro…
Humps and Bumps in Lifetime Consumption
In this article we argue that the life-cycle model that allows demographics to affect household preferences and relaxes the assumption of certainty equivalence can generate hump-shaped consumption profiles over age that are very similar to those observed in household-level data sources and, in particular, match the differences in shape across different education groups. Liquidity constraints or myopia are not required to explain the empirical fea…
Saving, Growth, and Investment
This paper provides a descriptive analysis of the long- and short-run correlations among saving, investment, and growth rates for 123 countries over the period 1961-94. Three results are robust across data sets and estimation methods: i) lagges saving rates are positively related to investment rates; ii) investment rates Granger cause growth rates with a negative sign; iii) growth rates Granger-cause investment with a positive sign
Intertemporal Choice and the Cross-Sectional Variance of Marginal Utility
The theory of intertemporal choice predicts that the cross-sectional variance of the marginal utility of consumption is equal to its own lag plus a constant and a random component. Using general preference specifications and some assumptions about the nature of the random component, we provide an explicit test of this hypothesis. Our approach circumvents the necessity to identify a pure age profile of the cross-sectional variance of consumption a…
Tests of Income Pooling in Household Decisions
Asset Holding and Consumption Volatility
We investigate the possibility that limited participation in asset markets, and the stock market in particular, might explain the lack of correspondence between the sample moments of the intertemporal marginal rate of substitution and asset returns in U.K. data. We estimate ownership probabilities to separate "likely" shareholders from nonshareholders, enabling us to control for changing composition effects as well as selection into the group. We…
The Demand for Money, Financial Innovation, and the Welfare Cost of Inflation
We use microeconomic data on households to estimate the parameters of the demand for currency derived from a generalized Baumol-Tobin model. Our data set contains information on average currency, deposits, and other interest-bearing assets; the number of trips to the bank; the size of withdrawals; and ownership and use of ATM cards. We model the demand for currency accounting for adoption of new transaction technologies and the decision to hold i…
The Effect of Individual Retirement Accounts on Household Consumption and National Saving
A major debate exists on whether expanding tax‐favoured savings accounts such as Individual Retirement Accounts (IRAs) will increase national savings. Much of the empirical debate has centred on whether IRA contributions before the Tax Reform Act of 1986 represented new savings or merely reshuffled assets. We find no evidence that households financed their IRA contributions from reductions in consumption, at least initially. We find evidence that…
From Earnings Inequality to Consumption Inequality
This paper studies the paths from inequality in earnings to inequality in household consumption. We show that careful study of the evolution of the variances and covariances of earnings and consumption within cohorts across time can identify permanent and transitory shocks. We present an application to the evolution of inequality in the United Kingdom. We extend previous results to recognise separate earnings of partners in couples
Wage shocks and consumption variability in Mexico during the 1990s
Limited commitment and crowding out of private transfers
This paper studies some empirical implications of models with limited risk sharing due to the imperfect enforceability of contracts. We test whether the amount by which public transfers reduce private transfers is affected by features of the economy, such as the variance of income and its persistence. These implications are unique to models with imperfect enforceability. We use data from Mexico collected to evaluate a public transfer programme. I…
Child health in rural Colombia
Trade reforms and wage inequality in Colombia
Inégalités, croissance et politiques redistributives
Explaining Changes in Female Labor Supply in a Life-Cycle Model
This paper studies the life-cycle labor supply of three cohorts of American women, born in the 1930s, 1940s, and 1950s. We focus on the increase in labor supply of mothers between the 1940s and 1950s cohorts. We construct a life-cycle model of female participation and savings, and calibrate the model to match the behavior of the middle cohort. We investigate which changes in the determinants of labor supply account for the increases in participat…
Booms and Busts
Over much of the past 25 years, house price and consumption growth have been closely synchronized. Three main hypotheses for this have been proposed: increases in house prices raise household wealth and so their consumption; house price growth reduces credit constraints by increasing the collateral available to homeowners; and house prices and consumption are together influenced by common factors. Using microeconomic data, we find that the relati…
Oportunidades
In this paper we estimate the effect of the Mexican conditional cash transfer program, Oportunidades, on consumption, and we explore some issues related to participation in the program and to the estimation of treatment effects. We discuss the comparability of treatment and control areas, provide evidence that the expected transfer may not be sufficiently high to induce many eligible households to participate, and find positive effects on consump…
P63 Mandated attendance at parenting workshops improves women's healthcare knowledge but may widen health inequities in low and middle income countries
Background Conditional cash transfer schemes (CCTS) are relatively new policies in low and middle income countries which aim to improve the health and welfare of poor families by investing in their knowledge, skills and resources. Families are offered regular cash as long as they comply with certain conditions. One of these is that mothers/carers attend workshops where parenting and children9s healthcare issues are discussed. We hypothesised that…
Children's Schooling and Work in the Presence of a Conditional Cash Transfer Program in Rural Colombia
The paper studies the effects of Familias en Acción, a conditional cash transfer program implemented in rural areas in Colombia since 2002, on school enrollment and child labor. Using a difference‐in‐difference framework, our results show that the program increased school participation of 14–17‐year‐old children quite substantially, by between 5 and 7 percentage points and had lower effects on the enrollment of younger children, in the region of …
Subsidizing Vocational Training for Disadvantaged Youth in Colombia
This paper evaluates the impact of a randomized training program for disadvantaged youth introduced in Colombia in 2005. This randomized trial offers a unique opportunity to examine the impact of training in a middle income country. We use originally collected data on individuals randomly offered and not offered training. The program raises earnings and employment for women. Women offered training earn 19.6 percent more and have a 0.068 higher pr…
Changes in Consumption at Retirement
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 comprehensive measure than only food used in many of the previo…
Economics (40 obras) · Econometrics (19 obras) · Demographic economics (18 obras) · Poverty, Education, and Child Welfare (16 obras) · Economic growth (15 obras) · Financial Literacy, Pension, Retirement Analysis (15 obras) · Gender, Labor, and Family Dynamics (14 obras) · Finance (13 obras) · Mathematics (13 obras) · Medicine (12 obras)