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Lundberg et al. (2003)主張的婚姻談判理論指出退休家庭消費驟降現象是由於夫妻間的相對談判能力在丈夫退休後出現變化而造成。而且該下跌的幅度取決於二人年齡的差異。本論文考慮到 Aguiar and Hurst (2005)的評論消費應該被視為支出和時間的輸出，嘗試修改 Lundberg et al. (2003)的婚姻談判模型，並從食物攝取量的角度重新探討它在退休消費決策中所扮演的角色。我利用美國全國食品調查的食品消費支出和攝取量數據，結果發現儘管退休已婚夫婦的消費支出有下降跡象，但無論是已婚還是單身家庭均沒有減少消費的數量或降低消費的品質。此外，我發現並無任何證據顯示在已婚家庭組別中，夫婦間年齡差距較大的家庭會傾向於丈夫退休後削減更多消費或支出。這些結果與理論預期不符合。因此，認為婚姻談判理論能充分解釋已婚家庭退休消費行為的推斷還是言之過早。 / The Marital Bargaining Theory proposed by Lundberg et al. (2003) suggests that a discontinuity in consumption expenditure at retirement is attributable to the change in the relative bargaining power of husbands and wives upon the husband's retirement, and that the extent of such a decline depends upon age differences in couples. This thesis responds to Aguiar and Hurst (2005)'s critique that consumption should be regarded as an outcome of market expenses and time. With this taken into consideration, I attempt to rewrite the marital bargaining model and reexamine its role in the retirement-consumption decision empirically from the perspective of food intake. By exploiting data on food expenditures and intake from U.S nationwide food surveys, I show that despite a drop in expenditures for married couples, neither married nor single households experience a decline in consumption associated with retirement in terms of food quantity and quality. Also, I find no evidence that married couples with big age gaps suffer from a larger decline in either expenditures or consumption relative to those who are closer in age. These results are inconsistent with a modified model of marital bargaining. It is thus premature to conclude that the Marital Bargaining Theory plays an important role in explaining the retirement-consumption behavior of married couples. / Detailed summary in vernacular field only. / Wong, Lok Sze. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2012. / Includes bibliographical references (leaves 81-83). / Abstracts also in Chinese. / Abstract --- p.ii / 摘要 --- p.iii / Acknowledgements --- p.iv / Chapter 1. --- Introduction --- p.1 / Chapter 2. --- Literature Review --- p.4 / Chapter 3. --- Data --- p.13 / Chapter 3.1 --- Survey Description --- p.13 / Chapter 3.2 --- Sample Selection --- p.18 / Chapter 3.3 --- Summary Statistics --- p.20 / Chapter 4. --- Change in Expenditure and Time use at Retirement --- p.21 / Chapter 5. --- Modified Model of Marital Bargaining --- p.26 / Chapter 6. --- Methodology for Consumption Analysis --- p.32 / Chapter 7. --- Comparison of the CSFII and NHANES Estimates --- p.37 / Chapter 8. --- Retirement-Consumption Behaviors across Married Couples --- p.40 / Chapter 9. --- Discussion and Implication --- p.47 / Chapter 10. --- Conclusion --- p.50 / Chapter Figure 1: --- Retirement Rates by Age in the CSFII --- p.52 / Chapter Table 1: --- Demographic Statistics of Male Household Heads Aged Between 57 and 71 in the CSFII and NHANES by Marital Status --- p.53 / Chapter Table 2: --- Descriptive Statistics of Self-Reported Health Status and Specific Health Conditions of Male Household Heads Aged Between 57 and 71 in the CSFII and NHANES by Marital Status --- p.54 / Chapter Table 3: --- Instrumental Variable Regression of Changes in Log Food Expenditure and Shopping Frequency Upon Retirement by Marital Status --- p.55 / Chapter Table 4: --- Instrumental Variable Regression of Changes in Log Food Expenditure and Shopping Frequency Upon Retirement for Married Couples by Difference in Age --- p.56 / Chapter Table 5: --- Instrumental Variable Regression of Changes in Log Food Expenditure and Shopping Frequency Upon Retirement for Married Couples by Difference in Age (Three Groups) --- p.57 / Chapter Table 6: --- Comparison of Predictions Between Standard and Modified Marital Bargaining Models --- p.58 / Chapter Table 7: --- Comparison of Regression Results for Average Population Between the CSFII and NHANES (Nutritional Compositions) --- p.59 / Chapter Table 8: --- Comparison of Regression Results for Average Population Between the CSFII and NHANES (Propensity to Consume Food Categories) --- p.60 / Chapter Table 9: --- Comparison of Regression Results for Average Population Between the CSFII and NHANES (Propensity to Eat Away from Home) --- p.61 / Chapter Table 10: --- Instrumental Variable Regression of Changes in Nutritional Compositions Upon Retirement by Marital Status --- p.62 / Chapter Table 11: --- Instrumental Variable Regression of Changes in Propensity to Consume Food Categories Upon Retirement by Marital Status --- p.63 / Chapter Table 12: --- Instrumental Variable Regression of Changes in Propensity to Eat Away from Home Upon Retirement by Marital Status --- p.64 / Chapter Table 13: --- Instrumental Variable Regression of Changes in Nutritional Compositions Upon Retirement for Married Couples by Difference in Age (Three Groups) --- p.65 / Chapter Table 14: --- Instrumental Variable Regression of Changes in Propensity to Consume Food Categories Upon Retirement for Married Couples by Difference in Age (Three Groups) --- p.66 / Chapter Table 15: --- Instrumental Variable Regression of Changes in Propensity to Eat Away from Home Upon Retirement for Married Couples by Difference in Age (Three Groups) --- p.67 / Chapter Table 16: --- Comparison of Empirical Results and Predictions of Two Models, With and Without Change in Bargaining Power Within Marriage, for Married Couple Households --- p.68 / Chapter Appendix Table 1: --- The Median Annual Household Incomes in the 1999-2008 CPS March Supplement and the Corresponding Income Ranges in the NHANES --- p.69 / Chapter Appendix Table 2: --- Instrumental Variable Regression of Changes in Nutritional Compositions Upon Retirement for Married Couples by Difference in Age (Non-Household Head) --- p.70 / Chapter Appendix Table 3: --- Instrumental Variable Regression of Changes in Propensity to Consume Food Categories Upon Retirement for Married Couples by Difference in Age (Non-Household Head) --- p.71 / Chapter Appendix Table 4: --- Instrumental Variable Regression of Changes in Propensity to Eat Away from Home Upon Retirement for Married Couples by Difference in Age (Non-Household Head) --- p.72 / Chapter Appendix: --- Proof 1 --- p.73 / Chapter Appendix: --- Proof 2 --- p.76 / References --- p.81

This study starts from the viewpoint of domestic life insurance industry management, cooperating the intensive interview and analyzing the laws, and researching the profit of the new labor retirement system. Furthermore, the hypothesis of this study develops from the life insurance industry participating the labor retirement market managing niche. This study is going to confer about the opportunity and challenge of life insurance industry under the new labor retirement system from the overseas managing experiences of labor retirement and the different domestic insurance managing policy of Insurance Bureau, Financial Supervisory Commission. The major findings are: 1.According to the content of the new labor retirement system, the managing profit of life insurance industry is from ¡¨Annuity¡¨ and ¡§Prolonged Annuity¡¨. However, owing to the restriction of the laws, the profit is limited. 2.Under the new labor retirement system, the life insurance industry focuses on the market development of ¡§Individual Annuity Deposit¡¨. 3.The life insurance industry participates the labor retirement managing affair having the greatest superiority because it is a professional mechanism of dealing with the life risks and has the long-term property managing ability. 4.There are significant differences between the overseas managing experiences and domestic labor retirement fund managing systems. 5.What the life insurance industry should prepare the competitive strategies after the government opens the annuity market.