Consumption functionEquilibriumEconomic modelsStatistical analysisInflationMacroeconomicsConsumer spendingIncomeAssesses the importance of the consumer's expenditure equation in macroeconomic models. Considers the theoretical properties of the specifications featured in some well known models. Tests the specifications ...
Perhaps the most important feature of the consumption function for macroeconomics is what it has to say about the marginal propensity to consume (MPC) when there are changes in income. Economist John Maynard Keynes, who was the first to stress the importance of the MPC in The General Theory ...
A change in the marginal propensity to consume will change the slope of the consumption function. An increase in the MPC steepens the consumption function; a decrease in the MPC flattens it.Try ItA number of factors other than income can also cause the entire consumption function to shift. ...
必应词典为您提供consumption-function的释义,un. 消费函数; 网络释义: 消费函数概念消费函数;消费涵数;资源消耗函数;
Intertemporal Substitution in Macroeconomics Quarterly Journal of Economics, 100 (1985), pp. 225-253 CrossrefGoogle Scholar Meghir and Weber, 1993 C. Meghir, G. Weber Intertemporal Non-Separability or Borrowing Restrictions. A Disaggregated Analysis using a US Panel IFS (1993) Mimeo Google Scholar ...
Consumption Function: An Interpretation of Cross-Section Data,” inKenneth K. Kurihara(ed.),Post-Keynesian Economics(1954, reissued 1993), pp. 388–436; andMilton Friedman,A Theory of the Consumption Function(1957). An excellent summary of the literature can be found inAngus Deaton,Understanding...
in macroeconomics, consumption or saving focus on the aggregate consumption or saving(在宏观经济学中,消费或储蓄 强调的是总的消费或总的储蓄。)2. the income level is the most important factor that decides consumption or saving.(收入水平是影响消费和投资的 最重要的一个因素。)3. there is a ...
* * * The text discusses time inconsistency in this context. Time inconsistency was introduced and defined in chapter 14. * * * * * * Pick a point on the consumption function; that point represents a particular combination of consumption and income. Now draw a ray from the origin to that...
The consumption function was introduced by economist John Maynard Keynes. He is known as the father of modern macroeconomics and the founder of Keynesian economics. This branch of economics suggests that governments should be actively involved in their economies. Rather than let their economies fall u...
McGraw-Hill/IrwinMacroeconomics,10e ©2023TheMcGraw-HillCompanies,Inc.,AllRightsReserved.2 Introduction •Consumptionaccountsforabout70%ofAD •FluctuationsinCareproportionatelysmallerthanthefluctuationsinGDP •Consumptionisrelativelystable •Inthischapterweseektounderstandconsumptionandthelinkbetweenconsumption...