Humps and Bumps in Lifetime Consumption

Attanasio, Orazio P, et al
Authors registered in the RePEc Author Service: Orazio Attanasio

Journal of Business & Economic Statistics, 1999, vol. 17, issue 1, 22-35

Abstract: In this article, the authors argue that the life-cycle model that allows demographics to affect household preferences and relaxes the assumption of certainty equivalence can generate hump-shaped consumption profiles over age that are very similar to those observed in household-level data sources and, in particular, match the differences in shape across different education groups. Liquidity constraints or myopia are not required to explain the empirical features of observed life-cycle patterns. Coauthors are James Banks, Costas Meghir, and Guglielmo Weber.

Date: 1999
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Related works:
Working Paper: Humps and bumps in lifetime consumption (1995)
Working Paper: Humps and Bumps in Lifetime Consumption (1995)
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