01359nam a22001457a 4500020001800000082001800018100002000036100002100056245005000077260004400127300000900171500003400180520095800214650004101172  a9780199383153  a339.47bJAP-E  aJappelli,Tullio  aPistaferri,Luigi  aEconomics of consumptionbtheory and evidence  aNew YorkbOxford University Pressc2017  a2017  aincludes references and index  aIn The Economics of Consumption, Tullio Jappelli and Luigi Pistaferri provide a comprehensive examination of the most important developments in the field of consumption decisions and evaluate economic models against empirical evidence. The first part of the book provides the basic ingredients of economic models of consumption decisions. The central part reviews the empirical literature on the effect of income and wealth changes on consumption and on the relevance of precautionary saving and credit market imperfections. The last chapters extend the basic framework to such important areas as bequests, leisure, lifetime uncertainty, and financial sophistication. Jappelli and Pistaferri shed light on important issues, including how consumption responds to changes in economic resources, how economic circumstances and consumers' characteristics influence behaviour, and whether consumption inequality depends on income shocks and their persistence  aEconomicsvConsumptionvStock Market