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

Orazio P. Attanasio, Guglielmo Weber

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

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Year of publication:	February 2010
Authors:	Attanasio, Orazio P.
Other Persons:	Weber, Guglielmo (contributor)
Institutions:	National Bureau of Economic Research (contributor)
Publisher:	Cambridge, Mass : National Bureau of Economic Research
Subject:	Sparen \| Savings \| Theorie \| Theory \| Intertemporale Allokation \| Intertemporal allocation \| Wirtschaftspolitik \| Economic policy \| Lebenseinkommen \| Lifetime income

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