Punchline Key result: household non-durable consumption drops by 9.8% because of male retirement. A larger drop estimated for total food(14.1%) Our strategy provides non-parametric identification only for a subpopulation of those who retire(those who retire at the time they become eligible) We estimate smaller drops for poverty sample Our estimates can be reconciled with utility optimization-in the cross section, drop in work- related expenses and leisure substitutes is large enough to explain changes in consumptionPunch-line • Key result: household non-durable consumption drops by 9.8% because of male retirement. A larger drop estimated for total food (14.1%). • Our strategy provides non-parametric identification only for a subpopulation of those who retire (those who retire at the time they become eligible). • We estimate smaller drops for “poverty sample”. • Our estimates can be reconciled with utility optimization - in the cross section, drop in work￾related expenses and leisure substitutes is large enough to explain changes in consumption