behind lifecycle consumption variations are lifecycle income changes, which display similar flattening. Employing a lifecycle … model we show changes in income are sufficient to match the movements in consumption …We document systematic and significant time variation in US lifecycle nondurable consumption profiles. Consumption …

-shaped consumption age profiles. The main driver behind lifecycle consumption variations are lifecycle income changes, which display … similar flattening. Employing a lifecycle model we show changes in income are sufficient to match the movements in consumption …We document systematic and significant time variation in US lifecycle non-durable consumption profiles. Consumption …

We revisit the alleged retirement consumption puzzle. According to the life-cycle theory, foreseeable income reductions … such as those around retirement should not affect consumption. However, we first recall that given higher leisure … endowments after retirement, the theory does predict a fall of total market consumption expenditures. In order not to mistake …

degree of insurance. This, in turn, contributes to persistent racial differentials in life-cycle consumption.Starting from … the same position in the consumption distribution Blacks end up in a lower percentile than Whites after a few decades …. This is particularly marked for those Blacks who start at the top of the consumption distribution, where Whites are much …

marginal propensity to consume because the short run covariance between income growth and consumption growth increases when … can be identified from panel data on income and consumption. Finally, we estimate a high degree of knowledge in the Panel …We study whether households can distinguish persistent from transitory income shocks, and the implications for …

consumption. The parsimonious model has a closed-form solution for the age of peak consumption and the consumption level at that … age relative to initial consumption. A calibration of the model with data from gerontology produces an empirically … plausible hump in consumption. …

English Abstract: This paper explores the heterogeneous effects of monetary policy on consumption between workers and … retirees. Using household-level data from the U.S., Italy, Japan and Korea, we first show that the consumption of retirees … responds less sensitively to monetary policy shocks than that of workers, and that the different weight of interest income in …

repeated cross-section data on consumption and income to decompose idiosyncratic changes in income into predictable life … evolution of consumption and income inequality well and delivers two main results. First, we find that permanent changes in … consumption inequality did not increase much over this period. Our results support the view that many permanent changes in income …

We revisit the alleged retirement consumption puzzle. According to the life-cycle theory, foreseeable income reductions … such as those around retirement should not affect consumption. However, we first recall that given higher leisure … endowments after retirement, the theory does predict a fall of total market consumption expenditures. In order not to mistake …