Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy
从理论和实证角度评述了生命周期消费模型的大量文献，讨论了将模型应用于数据的多种方法及其成功与失败，并回顾了可能解决剩余实证难题的模型改进。
This paper provides a critical survey of the large literature on the life cycle model of consumption, both from an empirical and a theoretical point of view. It discusses several approaches that have been taken in the literature to bring the model to the data, their empirical successes, and their failures. Finally, the paper reviews a number of changes to the standard life cycle model that could help solve the remaining empirical puzzles.