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Aguiar, Mark - 2008

In this paper we revisit two well-known facts regarding lifecycle expenditures. The first is the familiar "hump" shaped … lifecycle profile of nondurable expenditures. We document that the behavior of total nondurables masks surprising heterogeneity … in the lifecycle profile of individual sub-components. We find, for example, that while food expenditures decline after …

Persistent link: https://www.econbiz.de/10012464754

The Savers-Spenders Theory of Fiscal Policy

Mankiw, N. Gregory - 2000

The macroeconomic analysis of fiscal policy is usually based on one of two canonical models--the Barro-Ramsey model of infinitely-lived families or the Diamond-Samuelson model of overlapping generations. This paper argues that neither model is satisfactory and suggests an alternative. In the...

Persistent link: https://www.econbiz.de/10012471204

The Consumption of Stockholders and Non-Stockholders

Mankiw, N. Gregory - 1990

Only one-fourth of U.S. families own stock. This paper examines whether the consumption of stockholders differs from the consumption of non-stockholders and whether these differences help explain the empirical failures of the consumption-based CAPM. Household panel data are used to construct...

Persistent link: https://www.econbiz.de/10012475631

Permanent Income, Current Income, and Consumption

Campbell, John Y. - 1987

This paper reexamines the consistency of the permanent income hypothesis with aggregate, post-war, United States data. The permanent income hypothesis is nested within a more general model in which a fraction of income accrues to individuals who consume their current income rather than their...

Persistent link: https://www.econbiz.de/10012476631

Consumer Spending and the After-Tax Real Interest Rate

Mankiw, N. Gregory - 1986

Persistent link: https://www.econbiz.de/10012477080

The Retirement of a Consumption Puzzle

Hurst, Erik - 2008

This paper summarizes five facts that have emerged from the recent literature on consumption behavior during retirement. Collectively, the recent literature has shown that there is no puzzle with respect to the spending patterns of most households as they transition into retirement. In...

Persistent link: https://www.econbiz.de/10012464857

Consumption vs. Expenditure

Aguiar, Mark - 2004

Standard tests of the permanent income hypothesis (PIH) using data on nondurables typically equate expenditures with … decline in expenditures at the time of retirement is matched by an equally dramatic rise in time spent on home production. The … innovation of our paper is that we empirically disentangle changes in actual consumption from changes in expenditures. To do so …

Persistent link: https://www.econbiz.de/10012468386