increased their consumption. Finally, the rapid increase in housing prices in 1985-86 may have been an important determinant of …

The paper explores how repeated revisions of consumption plans increase long-run utility. If agents value present … anticipations of future consumption, some revisions may be viewed as a benign form of self-delusion. We consider a minimal … generalization of the Samuelson discounted utility model to allow for utility linked to next period consumption. Agents are assumed …

analysis of the relation between old-age pensions and private consumption. Norwegian macro-data for socioeconomic groups of … households are used to estimate consumption functions for workers and pensioners. We find no effects from various approximations … of expected pension-income to consumption for workers, but results indicate some influence from labour-income uncertainty …

Despite macroeconomic evidence pointing to a negative aggregate consumption response due to political uncertainty, few … papers have used microeconomic panel data to analyze how households adjust their consumption after an uncertainty shock. We …

Structural models of lifetime labour supply and consumption require functional specifications of preferences as well as … extent predicted distributions of lifetime consumption are robust with respect to the specification of preferences. The … simulation results show that simulated distributions of lifetime consumption strongly depend on the estimate of the intertemporal …

A dynamic consumption function, where consumption in the long run is determined by households’ disposable income and … wealth, has been superior to the Euler equation in explaining the development of Norwegian aggregate consumption over several … deregulation and the current international financial crisis. In the current version, long run consumption is homogeneous in income …