000			01231nam a22001457a 4500
999			_c525532 _d525532
008			240320b ||||| |||| 00| 0 eng d
100			_aKolsrud, Jonas, et al _950313
245			_aRetirement consumption and pension design
260			_aThe American Economic Review
300			_a114(1), Jan, 2024: p.89-133
520			_aThis paper analyzes consumption to evaluate the distributional effects of pension reforms. Using Swedish administrative data, we show that on average, workers who retire earlier consume less while retired and experience larger drops in consumption around retirement. Interpreted via a theoretical model, these findings imply that reforms incentivizing later retirement incur a substantial consumption smoothing cost. Turning to other features of pension policy, we find that reforms that redistribute based on early-career labor supply would have opposite-signed redistributive effects, while differentiating on wealth may help to target pension benefits toward those who are vulnerable to larger drops in consumption around retirement.- Reproduced https://www.aeaweb.org/articles?id=10.1257/aer.20221426
773			_aThe American Economic Review
906			_aPENSION REFORMS
942			_cAR