introduction of an unfunded social security program will raise consumption even if all bequests reflect intergenerational altruism … earnings are uncertain, his future bequest is also uncertain and his consumption therefore rises more in response to an …

evidence is not as "shovel ready" as one would like. Although consumption and investment clearly respond to tax incentives and …

alternative fiscal policies on current consumption and saving. Studies to date have examined the response of current consumption … consumption smoothing is actually feasible. ESPlanner's saving and life insurance recommendations generate the smoothest possible … survival-state contingent lifetime consumption path for the household without putting it into debt. Such consumption smoothing …

working relatively few (weekly) hours, for instance, suffer from a spending shock of the type we analyzed: their consumption …