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020 _a9780691188485
_qPDF
024 7 _a10.1515/9780691188485
_2doi
035 _a(DE-B1597)9780691188485
035 _a(DE-B1597)501876
035 _a(OCoLC)1076407049
040 _aDE-B1597
_beng
_cDE-B1597
_erda
072 7 _aBUS069030
_2bisacsh
082 0 4 _a339.47015118
_222
084 _aonline - DeGruyter
100 1 _aFriedman, Milton
_eautore
245 1 0 _aTheory of the Consumption Function /
_cMilton Friedman.
264 1 _aPrinceton, NJ :
_bPrinceton University Press,
_c[2018]
264 4 _c©1957
300 _a1 online resource
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
505 0 0 _tFrontmatter --
_tPreface --
_tContents --
_tList of Tables --
_tI. Introduction --
_tII. The Implications of the Pure Theory of Consumer Behavior --
_tIII. The Permanent Income Hypothesis --
_tIV. Consistency of the Permanent Income Hypothesis with Existing Evidence on the Relation between Consumption and Income : Budget Studies --
_tV. Consistency of the Permanent Income Hypothesis with Existing Evidence on the Relation between Consumption and Income: Time Series Data --
_tVI. The Relation Between the Permanent Income and Relative Income Hypotheses --
_tVII. Evidence from Income Data on the Relative Importance of Permanent and Transitory Components of Income --
_tVIII. A Miscellany --
_tIX. Summary and Conclusion --
_tIndex
506 0 _arestricted access
_uhttp://purl.org/coar/access_right/c_16ec
_fonline access with authorization
_2star
520 _aWhat is the exact nature of the consumption function? Can this term be defined so that it will be consistent with empirical evidence and a valid instrument in the hands of future economic researchers and policy makers? In this volume a distinguished American economist presents a new theory of the consumption function, tests it against extensive statistical J material and suggests some of its significant implications. Central to the new theory is its sharp distinction between two concepts of income, measured income, or that which is recorded for a particular period, and permanent income, a longer-period concept in terms of which consumers decide how much to spend and how much to save. Milton Friedman suggests that the total amount spent on consumption is on the average the same fraction of permanent income, regardless of the size of permanent income. The magnitude of the fraction depends on variables such as interest rate, degree of uncertainty relating to occupation, ratio of wealth to income, family size, and so on. The hypothesis is shown to be consistent with budget studies and time series data, and some of its far-reaching implications are explored in the final chapter.
538 _aMode of access: Internet via World Wide Web.
546 _aIn English.
588 0 _aDescription based on online resource; title from PDF title page (publisher's Web site, viewed 30. Aug 2021)
650 0 _aConsumption (Economics)
_xMathematical models.
650 7 _aBUSINESS & ECONOMICS / Economics / Theory.
_2bisacsh
850 _aIT-RoAPU
856 4 0 _uhttps://doi.org/10.1515/9780691188485?locatt=mode:legacy
856 4 0 _uhttps://www.degruyter.com/isbn/9780691188485
856 4 2 _3Cover
_uhttps://www.degruyter.com/cover/covers/9780691188485.jpg
942 _cEB
999 _c194366
_d194366