Using generalized method of moments on the covariance matrix, I test three models of consumption change on constructed consumption data from the Health and Retirement Study. Meant as a first step towards estimating life-cycle effects of subjective survival probabilities on consumption profiles,...

This paper attempts to confirm the life-cycle relationship that lower subjective survival probabilities should lead to less positively sloped consumption trajectories. I use the results of six waves of subjective survival probability questions in the HRS to construct an index of survival belief...