Mortality Risk and Consumption by Couples
Mortality Risk and Consumption by Couples
复制标题
死亡风险和夫妻消费
DOI：
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发表时间：
1999
期刊：
影响因子：
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通讯作者：
M. Hurd
中科院分区：
文献类型：
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作者：
M. Hurd
本文提出并分析了夫妻消费的生命周期模型。该模型比单身人士的标准模型复杂得多，因为它必须考虑到未亡配偶的福利。消费的决定因素是配偶双方的生存路径、可遗赠财富、配偶一方去世前后的年金流动、未亡配偶去世时遗赠的动机，以及夫妻双方和丧偶配偶双方的效用函数参数。分析显示了消费和可遗赠财富的变化率如何对这些决定因素的变化作出反应，并比较了单身人士和夫妇的消费水平。摘要的财富变化和消费的面板数据提供了生命周期模型的一般支持。
This paper proposes and analyzes a life-cycle model of consumption by couples. The model is considerably more complicated than the standard model for singles because it has to account for the welfare of a surviving spouse. The determinants of consumption are the survival paths of each spouse, bequeathable wealth, the flow of annuities both before and after the death of one of the spouses, a motive for bequeathing at the death of the surviving spouse, and the parameters of the utility functions of the couple and of each spouse if widowed. The analysis shows how consumption and the rate of change of bequeathable wealth react to variations in these determinants, and it compares the consumption level of a single person to a couple. Summaries of wealth change and consumption in panel data are given which offer general support for the life-cycle model.