Deconstructing Life Cycle Expenditure

By Mark Aguiar, Erik G. Hurst. Journal of Political Economy, 2008

252 citations recorded by the source corpus.

How researchers see this paper

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Demographic Structure and Macroeconomic Trends (2019, background): “Aguiar and Hurst (2013) show that there is substantial heterogeneity across consumption goods over the life cycle profile with respect to the mean and the cross-household variance in expenditures.”
Measuring the Sensitivity of Parameter Estimates to Estimation Moments (2017, background): “Aguiar and Hurst (2013) show that a meaningful portion of consumption goes to work related expenses, implying a second reason for non-separability.”
Consumer Spending during Unemployment: Positive and Normative Implications (2019, unknown): “A substantial literature has focused on consumers substituting time for money to explain lifecycle expenditure patterns (Aguiar and Hurst 2013) and business cycle fluctuations (Nevo and Wong 2015).”
Household Expenditures, Wages, Rents (2011, unknown): “An equilibrium in this economy is a set of rental prices {ri}i=1,N , and an allocation such that: (1) Agents maximize their utility, taking rental prices as given; (2) In every MSA occupied, the housing market clears; i.”