Economics at your fingertips  

L'eccesso di sensibilità nella relazione fra consumo e reddito corrente: un'analisi critica della letteratura

Gabriella Berloffa ()

Economia politica, 1999, issue 1, 65-116

Abstract: A well known result of empirical tests of the Life-Cycle hypothesis is that consumption appears "too sensitive" to the current level of income. When analysing this "excess sensitivity" problem - as it has been labelled in the literature - a possible confusion might arise because the words "excess sensitivity" often describe different phenomena, such as the response of consumption to "anticipated" and "unanticipated" income "shocks", to the "level" of income at time "t" or to its predictable "change". The aim of this survey is to illustrate the information about the different types of excess sensitivity obtained so far from the analysis of micro-data and the various explanations offered in the literature, highlighting the empirical evidence that supports each of them, as well as the theoretical and empirical implications of each explanation that have not received adequate attention.

Date: 1999
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (application/pdf) (text/html)
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

Economia politica is currently edited by Alberto Quadrio Curzio, Giorgio Lunghini, Pier Carlo Nicola

More articles in Economia politica from Società editrice il Mulino
Bibliographic data for series maintained by ().

Page updated 2021-05-28
Handle: RePEc:mul:jb33yl:doi:10.1428/1885:y:1999:i:1:p:65-116