When considering consumer behavior in a dynamic model, the conclusion is that temporary increases in income have almost no ...
THE RELATIONSHIP between consumer spending and income is one of the oldest statistical regularities of macroeconomics-and one of the sturdiest. Like the aging movie star, it needs a little touching up ...
MOST OF THE ANALYSIS of the effects of interest rate changes on consumption has been concerned with (1) the relative importance of income and substitution effects in determining how households will ...
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