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The intertemporal allocation of consumption : recent developments
[Allocation intertemporelle de la consommation, développements récents]

Author

Listed:
  • Jérôme Adda

    (Station d'économie et de sociologie rurales de paris - INRA - Institut National de la Recherche Agronomique)

Abstract

Cet article présente les développements récents de la théorie de la répartition intertemporelle de la consommation et de l'épargne. L'auteur part du modèle de revenu permanent à anticipations rationnelles. Ce modèle ne rend pas compte de la faible volatilité de la consommation par rapport au revenu ou de la sensibilité excessive aux variations du revenu courant. Les développements récents ont alors introduit plusieurs extensions. L'étude de comportements prudents permet d'étudier l'épargne de précaution, et de mieux prendre en compte les effets du risque sur la consommation. Les contraintes de liquidité permettent d'expliquer le lien entre consommation et revenu courant. Enfin, l'étude de fonctions d'utilité non séparables dans le temps aide à expliquer la persistance de la consommation et de modéliser des habitudes de consommation ou l'achat de biens durables.

Suggested Citation

  • Jérôme Adda, 1995. "The intertemporal allocation of consumption : recent developments [Allocation intertemporelle de la consommation, développements récents]," Post-Print hal-02699960, HAL.
    • Handle: RePEc:hal:journl:hal-02699960
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