Humps and bumps in lifetime consumption

被引：175

作者：

Attanasio, OP ^{[1
]}

Banks, J

Meghir, C

Weber, G

机构：

[1] Inst Fiscal Studies, Dept Econ, London WC1E 6BT, England

[2] UCL, Dept Econ, London WC1E 6BT, England

[3] Inst Fiscal Studies, London WC1E 7AE, England

[4] Univ Padua, Dept Econ, I-35123 Padua, Italy

来源：

JOURNAL OF BUSINESS & ECONOMIC STATISTICS | 1999年 / 17卷 / 01期

关键词：

hump-shaped consumption profiles; numerical solutions of life-cycle models; precautionary saving;

D O I：

10.2307/1392236

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this article we argue that the life-cycle model that allows demographics to affect household preferences and relaxes the assumption of certainty equivalence can generate hump-shaped consumption profiles over age that are very similar to those observed in household-level data sources and, in particular, match the differences in shape across different education groups. Liquidity constraints or myopia are not required to explain the empirical features of observed life-cycle patterns.

引用

页码：22 / 35

页数：14

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