2008•Dalian Minzu Xueyuan xuebaoRequires access

Development in the Western Theory of Consumption Function

MA Shu-sheng

Abstract

The theory of consumption function is an important field in western economics,which is of practical significance for the analysis of the operation in macroeconomics.It offers review of the absolute income hypothesis,the relative income hypothesis,the life-cycle hypothesis and the permanent income hypothesis,and from the just starting-to-expand precautionary saving hypothesis,the liquidity constraint hypothesis and so on.Based on this review,the prospect in the theory of consumption function in China is discussed.

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Key concepts: Consumption function, Life-cycle hypothesis, Permanent income hypothesis, Economics, Consumption (sociology), Function (biology), Econometrics, Macroeconomics