Saving and Growth: Another Look at the Cohort Evidence
The main contribution of the paper is an attempt to address the selection and growth issues by working, not with cohorts of households, but with cohorts of individuals. The gain from doing so is that we dispose completely of selection associated with household formation, which compro-mises our estimates of the effects of growth on saving, leaving only selection through births, deaths, and migration, which does not. The cost is that we do not have data on individual con-sumption, and it is difficult to allocate income to individuals due to the prevalence of family enterprises, so that the standard methodology can no longer be applied.
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|Date of creation:||1998|
|Date of revision:|
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- Orazio P. Attanasio & Hilary W. Hoynes, 1995.
"Differential Mortality and Wealth Accumulation,"
NBER Working Papers
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- Paxson, Christina, 1996.
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European Economic Review,
Elsevier, vol. 40(2), pages 255-288, February.
- Andrew Chesher, 1998. "Individual demands from household aggregates: time and age variation in the composition of diet," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 13(5), pages 505-524.
- Andrew Chesher, 1997. "Diet Revealed?: Semiparametric Estimation of Nutrient Intake-Age Relationships," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 160(3), pages 389-428.
- Fry, Maxwell J & Mason, Andrew, 1982. "The Variable Rate-of-Growth Effect in the Life-Cycle Saving Model: Children, Capital Inflows, Interest and Growth in a New Specification of the Life-Cycle Model Applied to Seven Asian Developing Count," Economic Inquiry, Western Economic Association International, vol. 20(3), pages 426-42, July.
- Tullio Jappelli & Franco Modigliani, 1998. "The Age-Saving Profile and the Life-Cycle Hypothesis," CSEF Working Papers 09, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
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