Why Does Consumption Fluctuate in Old Age and How Should the Government Insure It?
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NBER Working Paper No. 27348
---- Acknowledgments ----
Richard Blundell gratefully acknowledges financial support from the ESRC Centre for the Microeconomic Analysis of Public Policy at the IFS (ES00116). We are grateful to Marco Bassetto for helpful comments and suggestions. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research, the CEPR, the Federal Reserve Bank of Minneapolis, or the Federal Reserve System.