Browning, Martin; Ejrnæs, Mette - In: The Review of Economics and Statistics 91 (2009) 1, pp. 93-111
Consumption by couples rises sharply in the beginning and falls later in life; the causes of the early rise are hotly contested. Among the suggestions are rule of thumb behavior, demographics, liquidity constraints, the precautionary motive, and nonseparabilities between consumption and labor...