Is the basic life-cycle theory of consumption becoming more relevant? Evidence from Portugal
Pedro Bação and
Miguel Portela ()
Additional contact information
Fernando Alexandre: NIPE/Universidade do Minho, Escola de Economia e Gestão, Campus de Gualtar
Review of Economics of the Household, 2020, vol. 18, issue 1, No 5, 93-116
Abstract In this paper we report and discuss estimates of life-cycle consumption profiles obtained using microdata for Portuguese households. The estimated profiles are much flatter than the profiles usually reported in the literature for other countries, namely the Netherlands, the UK and the USA. In addition, we also report estimates of cohort and business cycle effects on consumption. The estimated cohort effects are consistent with the post-war progress in median standards of living. However, there is a deceleration in the trend of consumption growth for more recent cohorts. The business cycle estimates suggest that the recent debt crisis has had a strong negative impact on household consumption.
Keywords: Cohorts; Consumption; Life-cyle; Microdata (search for similar items in EconPapers)
JEL-codes: D15 E21 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s11150-019-09471-0 Abstract (text/html)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:kap:reveho:v:18:y:2020:i:1:d:10.1007_s11150-019-09471-0
Ordering information: This journal article can be ordered from
http://www.springer. ... cs/journal/11150/PS2
Access Statistics for this article
Review of Economics of the Household is currently edited by Shoshana Grossbard
More articles in Review of Economics of the Household from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().