| |
|
The Golden Age of Retirement
By Bakken, Line Smart
Memorandum 22/2006
|
|
Abstract |
The aim of this paper is to investigate income, saving and consumption for
households around retirement age. When doing this, there are different objectives which can
be analyzed. First of all it is possible to get some insight of welfare of elderly when they
reach retirement. Second, it is interesting to check the predictions of the life-cycle model by
investigating consumption trends of households. Register data files are used to construct
households which are used in the analysis throughout the paper. Modeling was done for a
particular group of Norwegian households who were tracked through their retirement
transition period. For each household there are characterizations such as pension income,
labor income, wealth accumulation, saving and consumption. The results show that the
households increase their after tax income and consumption, and have a high level of net
financial wealth. In addition is a connection between high income replacement ratio and low
income before retirement found. Households who have high income replacement ratios
increase consumption more than households with low income replacement. The results also
suggest that retirement decisions are independent of other decision making such as
consumption and saving |
| Project:
|
1133 Working life and welfare of the elderly
|
| Financing:
|
Norwegian Research Council |
| |
|
| |
[Full Text PDF]
|
Ordering
Publications will be available in full text Adobe Acrobat PDF-files from this server.
Publications printed as articles or book chapters will for copyright reasons not be availbable in full text.
For some documents you may need to download version 4 of the free Acrobat Reader.
Microsoft Internet Explorer has problems opening some documents. In these cases one can right click the link and choose
"Save Target As", and then open the saved file directly in Adobe Acrobat.
Paper versions are available by ordering on +47-22958820, fax +47-22958825, or by email
frisch@frisch.uio.no
Subscribe to our information mailinglist if you want to be noitied of new publications
in one or several of our research fields.
For reports, working papers or reprints from 1998 and previous years while the Frisch Centre was SNF-Oslo, use SNFs WWW publication centre,
(unfortunately only in Norwegian) or Tel: +47-55959500, Fax: +47-55959439, Post: SNF, Breiviksveien 40, N-5045 Bergen,
E-mail: publikasjon@snf.no
Updated
31.10.07, webmaster@frisch.uio.no.
|
|
