Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy
AbstractThis paper provides a critical survey of the large literature on the life cycle model of consumption, both from an empirical and a theoretical point of view. It discusses several approaches that have been taken in the literature to bring the model to the data, their empirical successes and failures. Finally, the paper reviews a number of changes to the standard life cycle model that could help solve the remaining empirical puzzles.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 15756.
Date of creation: Feb 2010
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Other versions of this item:
- Orazio P. Attanasio & Guglielmo Weber, 2010. "Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy," Journal of Economic Literature, American Economic Association, vol. 48(3), pages 693-751, September.
- D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-03-06 (All new papers)
- NEP-CBA-2010-03-06 (Central Banking)
- NEP-DGE-2010-03-06 (Dynamic General Equilibrium)
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Attanasio and Weber Review of Theories of Consumption and Savings
by Liam Delaney in Geary Behaviour Centre on 2010-08-30 20:43:00
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