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Working Paper

Bankruptcy in the Life-Cycle Consumption Model

An analysis assessing the sensitivity of consumption to income using a life-cycle model of consumption that incorporates the possibility of bankruptcy.

Working Papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views expressed in this paper are those of the authors and do not represent the views of the Federal Reserve Bank of Cleveland or the Federal Reserve System.

Suggested Citation

Kowalewski, Kim J. 1988. “Bankruptcy in the Life-Cycle Consumption Model.” Federal Reserve Bank of Cleveland, Working Paper No. 88-15.