Aggregate consumption and saving in the postwar United States

Article Abstract:

A study was conducted to examine two sets of aggregate expenditure data. Personal consumption expenditures in the National Income and Product Accounts and the Consumer Expenditure Surveys from the Bureau of Labor Statistics are adjusted to include the effects of owner-occupied housing and other consumer goods. Results show that differences between the data sources have grown, with the 1989 figure amounting to $1224 billion.

United States economic conditions

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Life-cycle and altruistic theories of saving with lifetime uncertainty

Article Abstract:

An analysis of the life-cycle theory of savings with lifetime uncertainty is presented. The theory assumes that individuals with lower mortality rates need more consumption growth. The theory is supported by nonparametric tests using the Retirement History Survey and parametrized models. It is shown that elderly households place prime importance on bequest contributions as much as contributions for their own consumption.

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Survey expectations in the time series consumption function

Article Abstract:

A study was conducted to examine survey-based measures of expectation and uncertainties. The measures reflect income and real interest rates as part of a consumption function. Survey data presents variables to explain changes in comsumption patterns. Results show that consumption does not follow random walk patterns but exhibits lagged responses to variations in expected economic development.

Statistics, Rational expectations (Economics)

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