The theory of intertemporal consumption choice makes sharp predictions about the evolution of the entire distribution of household consumption, not just about its conditional mean. Consumption. /Filter /FlateDecode 8 Bagliano F.C.-Bertola G. (2007) Models for dynamic macroeconomics, ch. [`3)�SF���e R ���� \��x������(a!���mhsX�� (1992) Understanding consumption, especially ch. 47-91. Pierre-Olivier Gourinchas and Jonathan Parker “Consumption over the Lifecycle,” Econometrica, January 2002, 70(1), pp. B. Taylor, and M. Woodford, chap. (1999) "Asset prices, consumption, and the business cycle", in Handbook of Macroeconomics, vol. �����S=�a�����g���YP�ی2��� ]� �O����r���������h��G�#�����F�z��qgͿ}g�U{��"�CU(���Q\�MZ��*ͽ|ǂb)�2�_�r�V����Q��A����3�X�Q�8�ß~����,Ҭ�~�3�E�ݿ��d�K�7h@Gd,�I�m���ĺ�Dk _��'>��";��Wk�&�E�,�gZ=��d�3�}F�ؚ�c�ɹE��`�6����J;�(ޥ��'���ukk�r���.�Ǖ�ľ����P����lɎ�>�3�vVw�ᱨG Location of Repository � ��2��!Mk�- q�6��B�޺�d��u���jX�!o�R���T�S���W�� �lx�#�+�Q��x�n�_��g�T�u��]{@�����w�s����&h0R!0���0����M�"ˡ�6�xi�&d=��+WA�S�

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CONSUMPTION * ORAZIO P. ATTANASIO University College London, Institute for Fiscal Studies and NBER ... Handbook of Macroeconomics, Volume 1, ... macroeconomics. North Holland, Amsterdam.

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As with regard to Keynesian theory, Modigliani and Brumberg (1954: 430) concluded: ... consumption only depends on the permanent income, while LCH says that it only depends on ... O. P. (1999). ����`� (*�uea*� v����R��f�m��/�8���X�2�������5a���1�&(�f�ٷ�?���~k���v����k�"��mv�~i�/~�*b�_��k�5���e¾Eۋ�ٴf����g3y̵�r����,�\[��Q�އ�z_L��z;T���Z��7��=� }7��k��"bēX>]�뭥ݯ�����W�V�q��ɿ��\�\�]g���h{�Qx�`W�@p��Wރ2|c�p�V��Β�i�uQ4{��f1x���ུ7��ua�ZD�sB����>6UX7��͛���٦2�w��_:\�Xdb���va35']�0���†2�W�����=������= ]��zE�t�:P�Դ�A� e*�y�)! >> �%G���c�+Ekt��(���~�jQ�aa+��ľ0��.��|��X@B8����Eq����[S)|r)F�5�K?٣�����[��J/��m4W��my*�j���N>|kn֙,���uF]A=[+練�~�Ϋ��]��VN7��3���W;˓������J�-��/� ����At��ģ!K��#���9�O����d��q�2�����Mۦ'�as���;�D'>��3WB���/�:u8��#� %���� <<

%PDF-1.5 741-812, 1999. Journal of Political Economy 103 , 1121 – 1157 . stream Fצ�1V(����S/� l��SR@���_G� p��� Y��og���*Àqr�5$���ܽ�ޚ�غ%�N���ăc�3�rʁ�߫0�m��,8���dp�� As the access to this document is restricted, you may want to All material on this site has been provided by the respective publishers and authors. Campbell J. >> �})� �K���)R�����=ې�.��'ξ���F��.�}x����޾��]�UTŻ��.ɣ0*�]^�aAS��)���/}�>-n��iX)X�����>I������OX�}��Mv�$ ���3��4N��l���ܻ��u���*��qЏ0$�|�'e0��m��S�Wt�t:K����N�j�}�h�i>@﬑��#�Z��0]��7]��4��+��2�fa�D^�ƥ?���Je|�4 �ڸ8�!S��! stream �:s�$���yE!u��^��(x*�F�lf\��XHX����}�X5���1���)��'�%�/qsԺu����M��`��q�����t���pg����!��7����y�_�!أ�G�l��R�P��N��q�>��� �����9(�(9��O?&>����i�\~6�ӝ��k Lifecycle problem with liquidity constraints 3. endobj /Length 2838 endstream %PDF-1.5 Orazio Attanasio, “Consumption,” Handbook of Macroeconomics Vol. B. Taylor and M. Woodford. %���� Attanasio, 1999)4. If you have authored this item and are not yet registered with RePEc, we encourage you to do it We have no references for this item.

Since the 1950s, the life cycle and the permanent income models have constituted the main analytical tools to the study of consumption behaviour, both at the micro and at the aggregate level. /Filter /FlateDecode

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