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Consumption and Children

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Author Info

  • Martin Browning

    (Institute of Economics, University of Copenhagen)

  • Mette Ejrnæs

    (Institute of Economics, University of Copenhagen)

Abstract

Several recent papers have concluded that precautionary saving motives are needed to reconcile data on lifetime patterns of consumption and income with a standard optimising model. In this paper we contest that we necessarily need a precautionary motive and we show that if we take consumption to take proper account of the number and ages of children, then adjusted consumption does not track income. We do not infer from this that children are the sole cause of the rise in consumption in the early part of life but simply that the data we have are not informative enough to convincingly identify the cause of the rise.

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File URL: http://www.econ.ku.dk/cam/wp0910/wp0203/2002-06.pdf/
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Bibliographic Info

Paper provided by University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics in its series CAM Working Papers with number 2002-06.

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Length: 28 pages
Date of creation: Aug 2002
Date of revision:
Handle: RePEc:kud:kuieca:2002_06

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Related research

Keywords: consumption; children; precautionary motive; life-cycle;

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