This essay first reviews the basic empirical predictions of the life cycle hypothesis of consumption, namely that … individuals should try to smooth intertemporally the marginal utility of consumption, that young workers should be accumulating …

In the early 1950s Modigliani, with Brumberg and Ando, formulated the life-cycletheory of consumption and savings that …

In the early 1950s Modigliani, with Brumberg and Ando, formulated the life-cycletheory of consumption and savings that …

lifetime resources, on the current consumption and wealth accumulation of employees affected by the reform. In line with …

We use data from the 2009 Internet Survey of the Health and Retirement Study to examine the consumption impact of …

In this paper we examine the link between wage inequality and consumption inequality using a life cycle model that … incorporates household consumption and family labor supply decisions. We derive analytical expressions based on approximations for … the dynamics of consumption, hours, and earnings of two earners in the presence of correlated wage shocks, non …

We discuss recent developments in the literature that studies how the dynamics of earnings and wages affect consumption … choices over the life cycle. We start by analyzing the theoretical impact of income changes on consumption--highlighting the … contributions, distinguishing between papers that use only income data and those that use both income and consumption data. The …