| Titre | Allocation intertemporelle de la consommation, développements récents | |
|---|---|---|
| Auteur | Jérôme Adda | |
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Revue | Economie et prévision |
| Numéro | no 121, 1995/5 Comportements des ménages | |
| Rubrique / Thématique | Modélisation de la fonction de consommation macro-économique |
|
| Page | 1-18 | |
| Résumé anglais |
The Intertemporal Allocation of Consumption: Recent Developments,
by Jérôme Adda.
This article presents recent developments in the theory of the intertemporal distribution of consumption and savings. We use as our starting point the model of permanent income with rational expectations. This model does not account for the low volatility of consumer spending compared with income or the excessive sensitivity of current income to fluctuations. Recent developments have therefore introduced a number of extensions. A study of careful behaviour is used to analyze prudential saving and better take into account the effects of risk on consumer spending. Cash flow constraints explain the link between consumption and current income. Lastly, a study of utility functions that are inseparable over time explains the persistence of consumption and is used to model consumption habits and purchases of durable goods. Source : Éditeur (via Persée) |
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| Article en ligne | http://www.persee.fr/web/revues/home/prescript/article/ecop_0249-4744_1995_num_121_5_5755 |
