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What is Life Cycle Hypothesis Explained about?

The Life Cycle Hypothesis, developed by Modigliani, Brunsberg, and Ando in 1963, posits that individuals plan their consumption and savings behavior over their entire lifetime rather than based solely on current income. It assumes a uniform level of consumption and savings throughout life, with individuals saving during their working years to finance consumption in retirement. The hypothesis aims to reconcile the observed discrepancies in income and consumption patterns, as highlighted by Kuznets

Author

Md. Shakibul Hassan

Language

EN