Economic theories predict that age influences individuals' saving and consumption behaviour. Despite this, age structure effects are rarely controlled for in empirical consumption functions.

Christopher D. Carroll, A Theory of the Consumption Function, with and without Liquidity Constraints, The Journal of Economic Perspectives, Vol. 15, No. 3 (Summer, 2001), pp. 23-45 ...

These differences in the policy evaluation have been subject to debates since the second half of the 1970s and have come to be known as the "consumption function controversy" between Keynesian and ...

This high “double” tax distorted all sorts of behavior–inducing heavy reliance on risky debt finance, for example–and likely caused more economic damage dollar-for-dollar than any other ...