THE RETIREMENT CONSUMPTION PUZZLE: EVIDENCES FOR BRAZIL AND THE STATE OF RIO GRANDE DO SUL
Palavras-chave:Households behavior, Demographics, Retirement consumption puzzle
ResumoThe life cycle/permanent income theories predict that consumption would be constant over time but such result has been challenged by some empirical studies which show a systemic decrease in consumption at retirement. This paper aims to investigate the so-called retirement consumption puzzle for Brazil and the State of Rio Grande do Sul. We estimated consumption functions controlling age effects for 12 composite goods using information from the 2008-2009 Household Budget Survey. The results showed that households’ expenditures systematic decrease with age for 7 composite goods (food, clothing, transport, hygiene, education, recreation and miscellaneous) and increase with age for 2 composite good (health care and housing). The patterns found to the households’ expenditures by age structure brings evidence of retirement consumption puzzle in Brazil.
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Stampe, M. Z., Porsse, A. A., Portugal, M. S., & Zuanazzi, P. T. (2017). THE RETIREMENT CONSUMPTION PUZZLE: EVIDENCES FOR BRAZIL AND THE STATE OF RIO GRANDE DO SUL. Análise Econômica, 35(68). https://doi.org/10.22456/2176-5456.46525