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Mortality Risk and Consumption by Couples

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Author Info
Hurd, M.

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Abstract

The goal of this paper is to analyze a model to explain consumption by couples. It is an extension fo the model for singles by Yaari (1195), and therefore emphasizes the role of mortality risk. It also allows for what I call a "true" bequest motive, bequeathing by a couple to the next generation, or at least to others outside of their own two-person household.

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Publisher Info
Paper provided by RAND - Labor and Population Program in its series Papers with number 99-03.

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Length: 38 pages
Date of creation: 1999
Date of revision:
Handle: RePEc:fth:randlp:99-03

Contact details of provider:
Postal: RAND, Labor and Population Program, 1700 Main Street, P.O. Box 2138 Santa Monica, CA 90407-2138.
Phone: (310) 393-0411, x7359
Web page: http://www.rand.org/organization/drd/labor/
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Related research
Keywords: COUPLES ; CONSUMPTION;

Other versions of this item:

Find related papers by JEL classification:
D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Michael D. Hurd, 1992. "Wealth Depletion and Life-Cycle Consumption by the Elderly," NBER Chapters, in: Topics in the Economics of Aging, pages 135-162 National Bureau of Economic Research, Inc. [Downloadable!]
    Other versions:
  2. Modigliani, Franco, 1988. "The Role of Intergenerational Transfers and Life Cycle Saving in the Accumulation of Wealth," Journal of Economic Perspectives, American Economic Association, vol. 2(2), pages 15-40, Spring. [Downloadable!] (restricted)
  3. Laurence J. Kotlikoff & Lawrence H. Summers, 1988. "The Contribution of Intergenerational Transfers to Total Wealth: A Reply," NBER Working Papers 1827, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. Benjamin M. Friedman & Mark Warshawsky, 1988. "Annuity Prices and Saving Behavior in the United States," NBER Chapters, in: Pensions in the U.S. Economy, pages 53-84 National Bureau of Economic Research, Inc. [Downloadable!]
  5. Hurd, Michael D, 1989. "Mortality Risk and Bequests," Econometrica, Econometric Society, vol. 57(4), pages 779-813, July. [Downloadable!] (restricted)
  6. Attanasio, O.P. & Browning, M., 1993. "Consumption Over the Life Cycle and Over the Business Cycle," Papers 9314, Tilburg - Center for Economic Research.
    Other versions:
  7. Modigliani, Franco, 1986. "Life Cycle, Individual Thrift, and the Wealth of Nations," American Economic Review, American Economic Association, vol. 76(3), pages 297-313, June. [Downloadable!] (restricted)
  8. Benjamin M. Friedman & Mark Warshawsky, 1988. "Annuity Prices and Saving Behavior in the United States," NBER Working Papers 1683, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Michael Hurd & Elaine Reardon, 2003. "Real Wealth Changes from 1982 to 1991 Among the Newly Retired," Working Papers 03-15, RAND Corporation Publications Department. [Downloadable!]
  2. Michael Hurd & James P. Smith, 2003. "Expected Bequests and Their Distribution," Working Papers 03-10, RAND Corporation Publications Department. [Downloadable!]
    Other versions:
  3. Michael D. Hurd & James P. Smith, 1999. "Anticipated and Actual Bequests," NBER Working Papers 7380, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  4. Michael Hurd, 2003. "Are Bequests Accidental or Desired?," Working Papers 03-13, RAND Corporation Publications Department. [Downloadable!]
  5. Shelly J. Lundberg & Jennifer Ward-Batts, 2000. "Saving for Retirement: Household Bargaining and Household Net Worth," Econometric Society World Congress 2000 Contributed Papers 1414, Econometric Society. [Downloadable!]
    Other versions:
  6. Freyland, Felix, 2004. "Household Composition and Savings: An Overview," Sonderforschungsbereich 504 Publications 04-69, Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim. [Downloadable!]
  7. Arie Kapteyn & Rob Alessie & Annamaria Lusardi, 1999. "Explaining the Wealth Holdings of Different Cohorts: Productivity Growth and Social Security," Tinbergen Institute Discussion Papers 99-069/3, Tinbergen Institute. [Downloadable!]
    Other versions:
  8. Felix Freyland, 2005. "Household Composition and Savings: An Overview," MEA discussion paper series 05087, Mannheim Research Institute for the Economics of Aging (MEA), University of Mannheim. [Downloadable!]
  9. Carlos Vidal-Melia & Ana Lejárraga-García, 2004. "The Bequest Motive And Single People’S Demand For Life Annuities," Public Economics 0405005, EconWPA. [Downloadable!]
  10. Jan Rouwendal, 2009. "Housing Wealth and Household Portfolios in an Ageing Society," De Economist, Springer, vol. 157(1), pages 1-48, March. [Downloadable!] (restricted)
  11. Michael Hurd & Arie Kapteyn, 2003. "Health, Wealth, and the Role of Institutions," Working Papers 03-09, RAND Corporation Publications Department. [Downloadable!]
    Other versions:
  12. Felix Freyland, 2005. "Household Composition and Savings: An Overview," MEA discussion paper series 05087, Mannheim Research Institute for the Economics of Aging (MEA), University of Mannheim. [Downloadable!]
  13. Siu Fai Leung, 2000. "Why Do Some Households Save So Little? A Rational Explanation," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 3(4), pages 771-800, October. [Downloadable!] (restricted)
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This page was last updated on 2009-10-24.

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