The Retirement Consumption in Korea: Evidence from the Korean Labor and Income Panel Study

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Abstract

This paper examines the retirement consumption in Korea using the Korean Labor and Income Panel Study. This paper reports a significant post-retirement consumption fall among elderly households. The empirical results of this paper suggest that a reduction in work-related expenses is an important factor to explain the observed post-retirement consumption fall. In addition, this paper finds that the post-retirement consumption growth rate varies depending on each household's pre-retirement wealth level. The findings of this paper provide empirical evidence on retirement consumption in an emerging market with no matured public pension programmes.

Original languageEnglish
Pages (from-to)163-187
Number of pages25
JournalGlobal Economic Review
Volume41
Issue number2
DOIs
Publication statusPublished - 2012 Jun 1

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All Science Journal Classification (ASJC) codes

  • Business and International Management
  • Economics, Econometrics and Finance(all)
  • Political Science and International Relations

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