ヤマダ　トモアキ   Yamada Tomoaki   山田　知明    所属   明治大学  商学部    職種   専任教授
言語種別	英語
発行・発表の年月	2007/06
形態種別	その他
標題	Consumption, Working Hours, and Wealth Determination in Life Cycle
執筆形態	共著(筆頭者以外)
掲載誌名	Bank of Japan, Working Paper Series
巻・号・頁	07-E-14,pp.1-42
著者・共著者	Naohito Abe,Noriko Inakura
概要	This paper presents an empirical analysis of a life cycle model. We incorporate labor supply and family structure into the standard precautionary saving model and estimate structural parameters based on the moment conditions for the life cycle profiles of consumption, labor hours, and wealth accumulation. Our empirical analyses with Japanese household data reveal that consideration of family structure is crucial in fitting several different profiles simultaneously. Although the model fits well in terms of average profiles, we also show that the model has some problems in explaining the covariance structure. The data show too little correlation between labor and income to be consistent with the model.