Levell, Peter; (2019) Essays on Consumption and Labour Supply over the Life-cycle. Doctoral thesis (Ph.D), UCL (University College London).

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Abstract

This thesis contains six self-contained chapters on the microeconomics of household consumption and labour supply behaviour, an introduction and a conclusion. // Chapter 1 provides an introduction. Chapters 2 and 3 address issues of measurement. The first of these considers the quality of household budget surveys relative to the national accounts. The second considers how we measure the inflation (with a focus on how price changes should be calculated across goods for which there is no corresponding spending data). The following two chapters discuss consumption patterns at older ages. Chapter 4 discusses spending declines in two countries - the US and the UK - and the role of medical expenses in accounting for these differences. Chapter 5 attempts to shed light on long-standing puzzles surrounding consumption around retirement using non-parametric, ‘revealed preference’ tests of different models of consumption behaviour over the life-cycle. // The Chapters 6 and 7 examine how consumers’ spending and labour supply choices are affected by changes in their economic environment. Chapter 6 looks how households responses to house price changes are affected by their initial leverage. Chapter 7 looks at how women’s labour supply responds to changes in wages along both intensive and extensive margins. // Chapter 8 concludes.

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