|
aggregation
|
aggregation The relation between the behaviour of totals and that of their components. Suppose, for example, that for each of
N individuals
i = 1, 2,…,
N,
i's consumption,
Ci, is given by
Ci =
ai +
b
Read all of this article with a FREE trial to HighBeam Research
Related newspaper, magazine, and journal articles from HighBeam Research
|
The textbook consumption function: a recent empirical irregularity, a comment.
American Economist
; In the Spring, 1988 issue of this journal, Edward Shapiro observed that estimates of the short run textbook Keynesian consumption function utilizing post-1973 data are radically different from those which were obtained using earlier sample periods. Instead of displaying the familiar positive
|
|
Comment Provoked by Mason's "Duesenberry's Contribution to Consumer Theory".
Journal of Economic Issues
; The excellent article by Roger Mason (Journal of Economic Issues, September 2000) concerning James Duesenberry's Income, Saving and The Theory of Consumer Behavior is worthy of further attention. The author suggests that the major reason for the book's lack of attention over the past few decades is
|
|
Do the rich save more? A new view based on intergenerational transfers.
Southern Economic Journal
; 1. Introduction Modern macroeconomic research on consumption/saving starts with Keynes (1936), who puts forward his well-known consumption function. An important implication of the Keynesian consumption function is that saving rate increases with income. However, although this predication is
|
|
A forward-looking model of aggregate consumption in New Zealand.
New Zealand Economic Papers
; An aggregate consumption function is estimated for New Zealand from 1974 to 1995. The instability of previous New Zealand models is addressed by using a broad measure of net wealth and a theoretically more sound measure of income. Households are assumed to be forward-looking, but only partly so.
|
|
|
Franco Modigliani: 1918-2003, in memoriam.(Obituary)
American Economist
; On September 25, 2003 the profession of economics and finance lost one of its prominent players. Born in Italy in 1918, Professor Franco Modigliani demonstrated his exceptional abilities when he enrolled in the University of Rome at the age of seventeen, two years ahead of the norm, and earned his
|
|
Unionized wages and employment.
Atlantic Economic Journal
; Unionized Wages and Employment It is well-known in almost all macroeconomic textbooks that employment (output) will decrease as workers are successful in pushing unionized wages to a higher level. This note reevaluates this belief by using the characteristics of the Cebula [SEJ, October 1976]
|
|
|
How Forward Looking Are Consumers? Further Evidence for the United States.(Statistical Data Included)
Southern Economic Journal
; Daniel Himarios This paper extends a standard model of consumption to test for the existence of myopic consumers. The extended model includes rule-of-thumb consumers as well as consumers who are assumed to solve a dynamic programming problem. The model allows this second set of consumers, however,
|
|
|
On testing the life cycle model using cross-section data.
Atlantic Economic Journal
; One must be wary of advocating the life cycle model just because the consumption-age profile seems to have the correct shape. An inverted U-shaped pattern is usually observed when the average propensity to consume (APC) is plotted against age. Adherents of the life cycle theory regard this as
|
|
Fortunately, filthy-rich Yanks aren't pitching-rich Fortunately, filthy-rich Yanks aren't pitching-rich
Chicago Sun-Times
; Irecently was rereading Milton Friedman's 1957 epic, The Theory of Consumption Function," in which the famed economist was advocating a steady growth in the money supply, when I came across a passage I had not noticed before. On the other hand," Friedman wrote, the New York Yankees should not be
|
|
A Taxing Situation
The Washington Post
; I recently was rereading Milton Friedman's 1957 epic, "The Theory of Consumption Function," in which the famed economist was advocating a steady growth in the money supply, when I came across a passage I had not noticed before. "On the other hand," Friedman wrote, "the New York Yankees should not
|