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Population Dynamics and Life-Cycle Consumption

Author

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  • Pietro Senesi

    () (University of Rome II - Faculty of Economics)

Abstract

This paper presents a model where aggregate consumption depends on both the level of wealth and the age structure of population. The explicit consideration of an endogenous rate of time preference permits to analyze the important role of population ageing as a determinant of aggregate saving.

Suggested Citation

  • Pietro Senesi, 2003. "Population Dynamics and Life-Cycle Consumption," CEIS Research Paper 2, Tor Vergata University, CEIS.
  • Handle: RePEc:rtv:ceisrp:2
    as

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    File URL: ftp://www.ceistorvergata.it/repec/rpaper/No-02--Senesi.pdf
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    References listed on IDEAS

    as
    1. Epstein, Larry G & Hynes, J Allan, 1983. "The Rate of Time Preference and Dynamic Economic Analysis," Journal of Political Economy, University of Chicago Press, vol. 91(4), pages 611-635, August.
    2. Weil, Philippe, 1989. "Overlapping families of infinitely-lived agents," Journal of Public Economics, Elsevier, vol. 38(2), pages 183-198, March.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    population dynamics; consumption; endogenous time preference;

    JEL classification:

    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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