Neoclassical life-cycle consumption: a textbook example

B-Tier
Journal: Economic Theory
Year: 2001
Volume: 17
Issue: 1
Pages: 209-221

Authors (1)

Monika BØtler (not in RePEc)

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We present a simple neoclassical life-cycle model in continuous time, in which the effects of endogenous labor supply, uncertain lifetime, and family composition on consumption and income profiles are jointly analyzed. Due to a parsimonious specification, analytical solutions for consumption growth are available for constant intertemporal elasticity of substitution preferences. Without relying on borrowing constraints, the model can generate a hump in the consumption profile, and a comovement of consumption and income during working life.

Technical Details

RePEc Handle
repec:spr:joecth:v:17:y:2001:i:1:p:209-221
Journal Field
Theory
Author Count
1
Added to Database
2026-01-25