Arbeitspapier
Time Variation in Lifecycle Consumption and Income
We document systematic and significant time variation in US lifecycle non-durable consumption profiles. Consumption profiles have consistently become flatter: differences in consumption across generations have decreased. Pooling data across different periods to identify lifecycle profiles masks relevant time variations and may artificially generate hump-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. The contributions of credit, housing and interest rates changes are quantitatively small.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 8162
- Klassifikation
-
Wirtschaft
Macroeconomics: Consumption; Saving; Wealth
Demographic Trends, Macroeconomic Effects, and Forecasts
- Thema
-
age profile of consumption
age profile of income
consumption heterogeneity
time variation
pooling
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Aksoy, Yunus
Basso, Henrique S.
St. Aubyn, Carolyn
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Aksoy, Yunus
- Basso, Henrique S.
- St. Aubyn, Carolyn
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2020
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