We specify and estimate a lifecycle model of consumption, housing demand and labor supply in an environment where …, education specific productivity shocks, and catastrophic consumption events, while bankruptcy is governed by the basic …

We discuss recent developments in the literature that studies how the dynamics of earnings and wages affect consumption … choices over the life cycle. We start by analyzing the theoretical impact of income changes on consumption - highlighting the … contributions, distinguishing between papers that use only income data and those that use both income and consumption data. The …

We develop an equilibrium lifecycle model of education, marriage and labor supply and consumption in a transferable …