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Changes in Consumption at Retirement
Social Science Research Network [SSRN] 
Oct. 28, 2008
Excerpt: 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 has been called the retirement consumption puzzle. In contrast to some of the previous studies, the authors find no evidence of the retirement consumption puzzle during the first years of retirement.
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