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Is There a Retirement-consumption Puzzle in Korea? : 한국의 은퇴-소비 퍼즐 분석

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dc.contributor.advisor황윤재-
dc.contributor.author차주영-
dc.date.accessioned2019-05-07T03:59:53Z-
dc.date.available2019-05-07T03:59:53Z-
dc.date.issued2019-02-
dc.identifier.other000000155805-
dc.identifier.urihttps://hdl.handle.net/10371/151248-
dc.description학위논문 (석사)-- 서울대학교 대학원 : 사회과학대학 경제학부, 2019. 2. 황윤재.-
dc.description.abstractThe one-time drop in consumption at retirement, called the retirement-consumption puzzle, is found empirically in most developed countries. To address for the endogeneity of the retirement, this paper investigates the retirement-consumption puzzle in Korea adopting Korean old-age pension as the assignment variable in Fuzzy RD. It finds a weakly significant reduced-form effect of 8.86% drop in nondurable consumption,and suggests liquidity problem as the main determinant for the drop. The paper also proposes that the lower wealth groups are more susceptible to the retirement, reducing more percentage of consumption compared to higher groups.-
dc.description.abstract소비를 평활하는 평생소득가설과 달리 많은 선진국에서 은퇴 시점에 소비가 유의하게 감소하는 은퇴-소비 퍼즐이 실증적으로 발견되었다. 은퇴의 내생성을 통제하기 위해 본 연구에서는 노령연금을 할당 변수로 하는 Fuzzy RD 방법을 사용한다. 축약형 모델 분석 결과 8.86%의 비내구재 소비 감소가 발견되었고, 유동성 문제가 그 원인으로 제시되었다. 또한 순자산 사분위별 더미 분석 결과 순자산이 적은 분위의 가구가 은퇴에 더 크게 반응하는 것으로 나타났다.-
dc.description.tableofcontentsList of Tables
List of Figures
I Introduction
II Literature Review
III Data Description
A The Definition of Retirement Status
B The Definition of Pension Eligibility Status
C The Working Sample
D Summary Statistics
IV Model
A Identification
B Estimation
V Results
A Main Results from the RDD
B Interpretation of the Discontinuity
VI Conclusion
A Appendix
A1 Comparison Between the Selected and Not Selected Sample
A2 Bandwidth Choice
A3 Results with Triangular Kernel
A4 Specification Testing
A5 The Effect of Expected Retirement on Consumption
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dc.language.isoeng-
dc.publisher서울대학교 대학원-
dc.subject.ddc330-
dc.titleIs There a Retirement-consumption Puzzle in Korea?-
dc.title.alternative한국의 은퇴-소비 퍼즐 분석-
dc.typeThesis-
dc.typeDissertation-
dc.description.degreeMaster-
dc.contributor.affiliation사회과학대학 경제학부-
dc.date.awarded2019-02-
dc.identifier.uciI804:11032-000000155805-
dc.identifier.holdings000000000026▲000000000039▲000000155805▲-
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