Separability and Aggregate Shocks in the Life-Cycle Model of Consumption: Evidence from Spain
AbstractThe purpose of this paper is to test the life-cycle permanent income hypothesis using an unbalanced panel from the Spanish family expenditure survey. The author's model accounts for aggregate shocks and nonseparability in the Euler equation among consumption goods, contrary to most of the literature in this area. Her results do not indicate excess sensitivity of consumption growth to income. Copyright 1998 by Blackwell Publishing Ltd
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Bibliographic InfoArticle provided by Department of Economics, University of Oxford in its journal Oxford Bulletin of Economics & Statistics.
Volume (Year): 60 (1998)
Issue (Month): 2 (May)
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Other versions of this item:
- Collado, M. Dolores, . "Separability and aggregate shocks in the life-cycle model of consumption: evidence from Spain," Open Access publications from Universidad Carlos III de Madrid info:hdl:10016/3950, Universidad Carlos III de Madrid.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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