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  3. Journal of Economic Literature
  4. September 2017
  5. Static and Intertemporal Household Decisions

Static and Intertemporal Household Decisions

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Abstract

We discuss the most popular static and dynamic models of household behavior. Our main objective is to explain which aspects of household decisions different models can account for. Using this insight, we describe testable implications, identification results, and estimation findings obtained in the literature. Particular attention is given to the ability of different models to answer various types of policy questions.

Citation

Chiappori, Pierre-Andre, and Maurizio Mazzocco. 2017. "Static and Intertemporal Household Decisions." Journal of Economic Literature, 55 (3): 985-1045. DOI: 10.1257/jel.20150715

Additional Materials

JEL Classification

  • D11 Consumer Economics: Theory
  • D13 Household Production and Intrahousehold Allocation
  • D15 Intertemporal Household Choice; Life Cycle Models and Saving
  • I38 Welfare, Well-Being, and Poverty: Government Programs; Provision and Effects of Welfare Programs