摘要：We use the hyperbolic discounting model as the model that saving of each household varies in the steady state. In this model, there is a trade off that consumers will decrease future consumption and saving because of their temptation of current consumption. Therefore the degree of commitment technologies fixes consumption and saving paths. In this paper, we consider data of life planning as the commitment period of consumption and make an empirical analysis using the data about life planning of Public Opinion Survey on Household Financial Assets and Liabilities. We use the Tobit TSLS. We get the result that there exists the short-run trade off between consumption and saving, therefore consumers can increase their future consumption and saving by life planning. This result supports the hyperbolic discounting theory.
