Aksoy, Yunus and Basso, Henrique S. and St Aubyn, Carolyn (2019) Time variation in lifecycle consumption and housing wealth. Working Paper. Birkbeck, University of London, London, UK.
![[img]](https://eprints.bbk.ac.uk/style/images/fileicons/text.png) |
Text
28709.pdf - Draft Version Restricted to Repository staff only Download (961kB) |
|
|
Text
28709a.pdf - Published Version of Record Download (1MB) | Preview |
Abstract
We document systematic and significant time variation in the profiles of lifecycle consumption expenditures in the US. Lifecycle consumption profiles have consistently become atter through time. Pooling data across different periods to identify consumption profiles masks relevant time variation and may artificially generate the well known hump-shaped consumption age profile. We also identify the effect of perceived housing wealth on lifecycle consumption profiles. Housing in uenced lifecycle consumption particularly from 2006 onwards and for older households. We propose mechanisms that may account for the estimated results employing an overlapping generations model with perceived housing wealth and time varying borrowing constraints.
Metadata
| Item Type: | Monograph (Working Paper) |
|---|---|
| Additional Information: | BCAM Working Paper Series 1904. ISSN 1745-8587 |
| Keyword(s) / Subject(s): | Age profile of Consumption, Structural Trends, House Prices |
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Research Centres and Institutes: | Applied Macroeconomics, Birkbeck Centre for |
| Depositing User: | Administrator |
| Date Deposited: | 22 Aug 2019 17:31 |
| Last Modified: | 02 Aug 2023 17:53 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/28709 |
Statistics
Additional statistics are available via IRStats2.
Archive Staff Only (login required)
