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- W3124920248 abstract "A puzzle in consumption theory is the observation of a hump in age-consumption profiles. We study a general equilibrium life-cycle economy with capital in which households include both consumption and leisure in their period utility function. We calibrate the model and find that a significant hump in life-cycle consumption is a feature of the equilibrium. Thus inclusion of leisure in household preferences may provide part of the explanation of observed life-cycle consumption humps." @default.
- W3124920248 created "2021-02-01" @default.
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- W3124920248 date "2007-01-01" @default.
- W3124920248 modified "2023-10-01" @default.
- W3124920248 title "A Leisurely Reading of the Life Cycle Consumption Data" @default.
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- W3124920248 doi "https://doi.org/10.2139/ssrn.957591" @default.
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