School of Economics | Life-Cycle Hypothesis
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22 Apr

Posted at 00:15h in Uncategorized by
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Tejvan Pettinger The Life-cycle hypothesis was developed by Franco Modigliani in 1957. The theory states that individuals seek to smooth consumption over the course of a lifetime – borrowing in times of low-income and saving during periods of high income. Graph shows individuals save from 20 to...