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Family Size, Household Production, and Life Cycle Saving

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  • James B. Davies

Abstract

Changing family size and labour-leisure choice are introduced into a life cycle model. Saving corresponds with empirical observation in some ways better, and in others worse, as a result. Changing family size reduces aggregate saving and generates substantial dissaving at peak size, indicating that bequests, uncertainty, and liquidity constraints should also be modelled. However, the age profile of consumption is humped, and labour-leisure choice produces a drop in consumption on retirement, both corresponding well with observation.

Suggested Citation

  • James B. Davies, 1988. "Family Size, Household Production, and Life Cycle Saving," Annals of Economics and Statistics, GENES, issue 9, pages 141-165.
  • Handle: RePEc:adr:anecst:y:1988:i:9:p:141-165
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    File URL: http://www.jstor.org/stable/20075685
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    Cited by:

    1. Stan Chervin & Kelly Edmiston & Matthew N. Murray, 2000. "Urban Malls, Tax Base Migration, and State Intergovernmental Aid," Public Finance Review, , vol. 28(4), pages 309-334, July.
    2. Ye (George) Jia, 2015. "The impact of personal bankruptcy law on entrepreneurship," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 48(2), pages 464-493, May.

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