Title

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

Author(s)

Giovanni Mastrobuoni Giovanni Mastrobuoni (Princeton University)

Matthew Weinberg Matthew Weinberg (University of Georgia)

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. Individuals with income mostly made up of Social Security benefits and who have some savings smooth consumption over the pay period, while individuals with little savings consume 25 percent fewer calories the week before checks are received relative to the week after checks are received. The findings for individuals with little savings are inconsistent with the Permanent Income/Lifecycle Hypothesis, but are consistent with hyperbolic discounting.

Creation Date

2007-01

Section URL ID

CEPS

Paper Number

137

URL

https://gceps.princeton.edu/wp-content/uploads/2017/01/137mastrobuoni.pdf

File Function

Jel

D14, E21, J26

Keyword(s)

Continuing Survey of Food Intake, United States

Suppress

false

Series

3