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Household Composition and Savings: An Overview

  • Felix Freyland

    (Munich Center for the Economics of Aging (MEA))

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    In recent years the literature on household saving behavior has been enriched by a number of contributions focusing on the problem of modelling a household as a single decision unit. It has reasonably been argued that with respect to household consumption and saving behavior the simple approach of modelling households as one representative decider could involve major mistakes. Thus the literature has enriched the basic model by incorporating variables that describe the composition of a household examples being the number and age of children, household member’s life expectancies and the intrahousehold distribution of income. This paper reviews these developments and empirical results in the latest literature, with a particular focus on intra-household income distributions.

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    File URL: http://mea.mpisoc.mpg.de/uploads/user_mea_discussionpapers/nawcyrylijnb30ig_87-05.pdf
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    Paper provided by Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy in its series MEA discussion paper series with number 05087.

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    Date of creation: 30 Jun 2005
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    Handle: RePEc:mea:meawpa:05087
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    1. Bourguignon, F. & Chiappori, P-A., 1991. "Collective Models of Household Behaviour: An Introduction," DELTA Working Papers 91-29, DELTA (Ecole normale supérieure).
    2. Michael D. Hurd, 1999. "Mortality Risk and Consumption by Couples," Working Papers 99-03, RAND Corporation.
    3. Shelly Lundberg & Jennifer Ward-Batts, 2000. "Saving for Retirement: Household Bargaining and Household Net Worth," Working Papers 0026, University of Washington, Department of Economics.
    4. Martin Browning & Thomas F. Crossley, 2001. "The Life-Cycle Model of Consumption and Saving," Journal of Economic Perspectives, American Economic Association, vol. 15(3), pages 3-22, Summer.
    5. David Laibson, 1997. "Golden Eggs and Hyperbolic Discounting," The Quarterly Journal of Economics, Oxford University Press, vol. 112(2), pages 443-478.
    6. Martin Browning & Annamaria Lusardi, 1996. "Household Saving: Micro Theories and Micro Facts," Journal of Economic Literature, American Economic Association, vol. 34(4), pages 1797-1855, December.
    7. Laurence J. Kotlikoff & Avia Spivak, 1979. "The Family as an Incomplete Annuities Market," UCLA Economics Working Papers 151, UCLA Department of Economics.
    8. Martin Browning & Mette Ejrnæs, 2002. "Consumption and Children," CAM Working Papers 2002-06, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics.
    9. Browning, Martin, 1995. "Saving and the intra-household distribution of income: an empirical investigation," Ricerche Economiche, Elsevier, vol. 49(3), pages 277-292, September.
    10. Browning, Martin, 2000. " The Saving Behaviour of a Two-Person Household," Scandinavian Journal of Economics, Wiley Blackwell, vol. 102(2), pages 235-51, June.
    11. Orazio Attanasio & James Banks, 1998. "Trends in household saving: a tale of two countries," IFS Working Papers W98/15, Institute for Fiscal Studies.
    12. Euwals, Rob & Börsch-Supan, Axel H. & Eymann, Angelika, 2000. "The Saving Behaviour of Two Person Households: Evidence from Dutch Panel Data," IZA Discussion Papers 238, Institute for the Study of Labor (IZA).
    13. Apps, Patricia & Rees, Ray, 2001. "Household Saving and Full Consumption over the Life Cycle," IZA Discussion Papers 280, Institute for the Study of Labor (IZA).
    14. Hurd, Michael D, 1989. "Mortality Risk and Bequests," Econometrica, Econometric Society, vol. 57(4), pages 779-813, July.
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