Heterogeneity in Intra-monthly Consumption Patterns, Self-Control, and Savings at Retirement

Giovanni Mastrobuoni () and Matthew Weinberg ()

American Economic Journal: Economic Policy, 2009, vol. 1, issue 2, 163-89

Abstract: Using data from the Continuing Survey of Food Intake by Individuals, this paper describes the shape of consumption profiles over the month for Social Security benefit recipients that have saved different amounts for retirement. Individuals with income mostly made up of Social Security and savings smooth consumption over the pay period, while individuals without savings consume 25 percent fewer calories the week before they receive checks relative to the week afterwards. The findings for individuals without savings, who comprise about a fourth of our sample, are inconsistent with the standard Life Cycle- Permanent Income Hypothesis but are consistent with hyperbolic discounting. (JEL D14, E21, J26)

JEL-codes: D14 E21 J26 (search for similar items in EconPapers)
Date: 2009
Note: DOI: 10.1257/pol.1.2.163
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Citations: View citations in EconPapers (79)

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Related works:
Working Paper: Heterogeneity in Intra-Monthly Consumption Patterns, Self-Control, and Savings at Retirement (2007)
Working Paper: Heterogeneity in Intra-Monthly Consumption. Patterns, Self-Control, and Savings at Retirement (2007)
Working Paper: Heterogeneity in Intra-Monthly Consumption Patterns, Self-Control, and Savings at Retirement (2007)
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