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Consumption versus Expenditure
Open accessAbstract
Previous authors have documented a dramatic decline in food expenditures at the time of retirement. We show that this is matched by an equally dramatic rise in time spent shopping for and preparing meals. Using a novel data set that collects detailed food diaries for a large cross section of U.S. households, we show that neither the quality nor the quantity of food intake deteriorates with retirement status. We also show that unemployed households experience a decline in food expenditure and food consumption commensurate with the impact of job displacement on permanent income. These results highlight how direct measures of consumption distinguish between anticipated and unanticipated shocks to income whereas measures of expenditures obscure the distinction.
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The demand for food and calories
Subramanian, S., & Deaton, A. (1996) · Journal of Political Economy · doi:10.1086/262020 · Cited by 647
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Cited by
The Economic Importance of Financial Literacy: Theory and Evidence
Lusardi, A., & Mitchell, O. S. (2014) · Journal of Economic Literature · doi:10.1257/jel.52.1.5 · Cited by 4,698
The Consumption Response to Income Changes
Jappelli, T., & Pistaferri, L. (2010) · Annual Review of Economics · doi:10.1146/annurev.economics.050708.142933 · Cited by 704
Consumer Spending during Unemployment: Positive and Normative Implications
Ganong, P., & Noel, P. (2019) · American Economic Review · doi:10.1257/aer.20170537 · Cited by 433
Income Changes and Consumption: Evidence from the 2013 Federal Government Shutdown
Baker, S. R., & Yannelis, C. (2017) · Review of Economic Dynamics · doi:10.1016/j.red.2016.09.005 · Cited by 130
Ericson, K. M., & Laibson, D. (2019) · Handbook of Behavioral Economics: Applications and Foundations 1 · doi:10.1016/bs.hesbe.2018.12.001 · Cited by 125
Metadata
- Authors
- Aguiar, M., & Hurst, E.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 2005-10
- Volume
- 113
- Issue
- 5
- Pages
- 919-948
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2142406045
- Cited by
- 749
- References
- 1
- FWCI
- 57.35
- Type
- journal article
- Language
- en
- Open access
- green
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
