2004•Unpublished venueRequires access
The Consumption Function
Michael K. Evans
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Abstract
This chapter contains section titled: Introduction Principal determinants of consumption Short-term links between consumption and disposable income: the marginal propensity to consume Long-term links between consumption and income:the permanent income hypothesis Consumer spending and changes in tax rates Importance of cost and availability of credit in the consumption function Consumption, housing prices, and mortgage rates Other links between consumer spending, the rate of interest, and the rate of return Credit availability and the stock of debt The role of demographic factors and the life cycle hypothesis The relationship between consumption and household net worth The effect of changes in consumer confidence Review