implies that differences in consumption between control and treatment households are due to the program. A buffer-stock model … predicts how the response of consumption to transfers depends on the discount factor. It estimates this parameter by matching … simulated to sample treatment effects on consumption. The estimates being very low, it concludes that poor households are very …

Previous empirical literature has found a sharp decline in consumption during the first years of retirement implying … that individuals do not save enough for their retirement. This phenomenon has been called the retirement consumption puzzle …. In contrast to some of the previous studies, the authors find no evidence of the retirement consumption puzzle during the …

Euler equation estimation of intertemporal consumption models imposes heavy demands on data and identifiability … conditions. For example, one typically needs panel data on consumption, assumptions on expectations, and a parameterization of … for the variation in consumption across households. Furthermore, estimates of the intertemporal elasticity of substitution …

The simple one-good model of life-cycle consumption requires that consumption be continuous over retirement; yet prior … research based on partial measures of consumption or on synthetic panels indicates that spending drops at retirement, a result … that has been called the retirement-consumption puzzle. Using panel data on total spending, nondurable spending and food …

The goal of this paper is to analyze a model to explain consumption by couples. It is an extension fo the model for …