Consumption Behavior and the Effects of Government Fiscal Policies
Randall P. Mariger
In Consumption Behavior and the Effects of Government Fiscal Policies, Randall Mariger explores how people make decisions about how much to consume and save over their lifetimes. An understanding of these issues illuminates not only individual behavior but important properties of the macro economy as well. The most popular framework for analyzing consumption has been the life-cycle theory. Mariger tests two fundamental, and controversial, assumptions underlying the theory—that there are no planned bequests and that human capital is marketable. To do this, he fits a structural consumption model that incorporates endogenous liquidity constraints (non-marketability of human capital), but no ... Read more
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Reviews for Consumption Behavior and the Effects of Government Fiscal Policies
Laurence J. Kotlikoff