Kernel Smoothed Consumption-Age Quantiles
In earlier work, the authors explored life-cycle consumption profiles of Canadian married couple families. That research concluded that the common presumption in simulation models of upward-sloping consumption-age profiles accompanied by dissaving in retirement could not be supported in Canadian data. Here, the authors continue to explore the shape of the consumption-age profile by nonparametric techniques they have developed. These techniques allow them to estimate profiles in a manner that does not depend on assumptions about functional form. In particular, the authors estimate the median and other quantiles of the consumption distribution conditional on age. Broadly speaking, the authors confirm their earlier results.
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Volume (Year): 25 (1992)
Issue (Month): 3 (August)
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