Krueger, Dirk; Fernandez-Villaverde, Jesus - Society for Economic Dynamics - SED - 2004
consumption, controlling for demographics, cohort and time effects. In addition to documenting profiles for total and nondurable … consumption, we devote special attention to the age expenditure pattern for consumer durables. We find hump-shaped paths over the … that households do not smooth consumption over their lifetimes. This is especially the case for services from consumer …