Motivation wadb Some possible reasons mentioned in the literature changes in preferences due to increased lei Isure shocks inducing retirement and affecting the level of consumption reduction in work-related expenditures(transport meals out, clothing increase in home production of services and/or more efficient purchases unexpectedly low pensions or liquidity problems(not in italy though -think of severance pay uidazioneMotivation Some possible reasons mentioned in the literature: • changes in preferences due to increased leisure • shocks inducing retirement and affecting the level of consumption • reduction in work-related expenditures (transport, meals out, clothing) • increase in home production of services and/or more efficient purchases • unexpectedly low pensions or liquidity problems (not in Italy, though – think of severance pay - liquidazione!)