Attanasio, Orazio P. <br/><br/>
Consumption and Saving:  Models of Intertemporal Allocation and Their Implications for Public Policy / 
Orazio P. Attanasio, Guglielmo Weber. 
 - Cambridge, Mass.  National Bureau of Economic Research  2010. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w15756 .
 - Working Paper Series (National Bureau of Economic Research)  no. w15756. .
<br/><br/> February 2010. 
<br/><br/> This paper provides a critical survey of the large literature on the life cycle model of consumption, both from an empirical and a theoretical point of view. It discusses several approaches that have been taken in the literature to bring the model to the data, their empirical successes and failures. Finally, the paper reviews a number of changes to the standard life cycle model that could help solve the remaining empirical puzzles. 
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