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Search results for: ECONOMICS OF AGING
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Life cycle theories of savings and consumption
PublicationLife cycle theories of savings and consumption are the economics theories explaining the changes in saving and consumption in the subsequent phases of the human life cycle. There are two main approaches: (1) indicating the dependence of the level of savings and consumption on the average level of income over a long period of human life (life cycle hypothesis; LCH) or (2) on psychological factors, in particular self-control and...