Life Cycle: Consumption, Consumer Income and Savings

Jo M. Martins (), Farhat Yusuf () and David A. Swanson ()
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Jo M. Martins: Macquarie University, Department of Marketing and Management
Farhat Yusuf: Macquarie University, Department of Marketing and Management
David A. Swanson: University of California Riverside, Department of Sociology

Chapter Chapter 6 in Consumer Demographics and Behaviour, 2011, pp 83-98 from Springer

Abstract: Abstract The sixth chapter examines how consumption per capita tends to track income per capita across countries and within individual countries with diverse income levels and cultures. It discusses the Life-Cycle Hypothesis concerned with the maximisation of consumption during the life-cycle. It also illustrates life-cycle hump-shaped trends. It raises conceptual and measurement issues including household-size equivalence measures. These issues include the question of cross-sectional findings and longitudinal trends and the use of pseudo panels. It examines issues related to consumption and savings in old age and differential mortality. It then reviews empirical findings related to household size, employment, work-related expenditures, durable and non-durable goods related to consumer behaviour. Finally, it assesses factors affecting consumer behaviour in retirement, a growing demographic trend, including credit/liquidity constraints, income and life expectancy uncertainty, bequest motives, leisure choices and unanticipated shocks.

Keywords: Consumer Behaviour; Household Expenditure; Saving Rate; Bequest Motive; Income Uncertainty (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:spr:ssdmcp:978-94-007-1855-5_6

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DOI: 10.1007/978-94-007-1855-5_6

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