Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy

Orazio Attanasio and Guglielmo Weber

No 15756, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper provides a critical survey of the large literature on the life cycle model of consumption, both from an empirical and a theoretical point of view. It discusses several approaches that have been taken in the literature to bring the model to the data, their empirical successes and failures. Finally, the paper reviews a number of changes to the standard life cycle model that could help solve the remaining empirical puzzles.

JEL-codes: D11 D12 E21 (search for similar items in EconPapers)
Date: 2010-02
New Economics Papers: this item is included in nep-cba and nep-dge
Note: EFG
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Citations: View citations in EconPapers (339)

Published as Orazio P. Attanasio & Guglielmo Weber, 2010. "Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy," Journal of Economic Literature, American Economic Association, vol. 48(3), pages 693-751, September.

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Journal Article: Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy (2010)
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