
Theory Of The Consumption Function
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Content
- Intro
- TABLE OF CONTENTS
- DEDICATION
- PREFACE
- LIST OF TABLES
- LIST OF FIGURES
- CHAPTER I-Introduction
- CHAPTER II-The Implications of the Pure Theory of Consumer Behavior
- 1. Complete Certainty
- 2. The Effect of Uncertainty
- a. THE INDIFFERENCE CURVE DIAGRAM
- b. MOTIVES FOR HOLDING WEALTH
- 3. The Relation between the Individual and the Aggregate Consumption Function
- CHAPTER III-The Permanent Income Hypothesis
- 1. The Interpretation of Data on the Income and Consumption of Consumer Units
- 2. A Formal Statement of the Permanent Income Hypothesis
- 3. The Relation between Measured Consumption and Measured Income
- CHAPTER IV-Consistency of the Permanent Income Hypothesis with Existing Evidence on the Relation between Consumption and Income: Budget Studies
- 1. Temporal Changes in Inequality of Income
- 2. Consumption-income Regressions for Different Dates and Groups
- a. TEMPORAL DIFFERENCES
- b. DIFFERENCES AMONG COUNTRIES
- c. CONSUMPTION OF FARM AND NONFARM FAMILIES
- d. OCCUPATIONAL CHARACTERISTICS OF FAMILIES
- e. NEGRO AND WHITE FAMILIES
- f. A DIGRESSION ON THE USE OF PARTIAL CORRELATION IN CONSUMPTION RESEARCH
- 3. Savings and Age
- 4. The Effect of Change in Income
- a. THE FSA DATA
- b. THE SURVEY OF CONSUMER FINANCES DATA
- c. THE SIGNIFICANCE OF THE COMPARISONS
- Appendix to Section 4-The Effect of Change in Income on the Regression of Consumption on Income
- CHAPTER V-Consistency of the Permanent Income Hypothesis with Existing Evidence on the Relation between Consumption and Income: Time Series Data
- 1. Recent Long-period Estimates of Aggregate Savings for the United States
- a. THEIR GENERAL PATTERN
- b. THE CONSTANCY OF k*
- 2. Regressions of Consumption on Current Income
- a. EFFECT OF PERIOD COVERED
- b. EFFECT OF FORM OF DATA
- c. THE RELATION BETWEEN TIME SERIES AND BUDGET ELASTICITIES
- 3. Regressions of Consumption on Current and Past Income
- a. FUNCTIONS BY MODIGLIANI, DUESENBERRY, AND MACK
- b. ALTERNATIVE FUNCTIONS FITTED TO DATA FOR A LONG PERIOD
- Appendix to Section 3-Effect on Multiple Correlation of Common Errors in Measured Consumption and Current Income
- CHAPTER VI-The Relation Between the Permanent Income and Relative Income Hypotheses
- 1. Relative Income Status Measured by Ratio of Measured Income to Average Income
- 2. Relative Income Status Measured by Percentile Position in the Income Distribution
- 3. The Basis for the Relative Income Hypothesis
- 4. The Relative versus the Absolute Income Hypotheses
- a. CONTINUOUS BUDGET DATA
- b. GEOGRAPHICAL BUDGET COMPARISONS
- c. SUMMARY EVALUATION OF EVIDENCE
- CHAPTER VII-Evidence from Income Data on the Relative Importance of Permanent and Transitory Components of Income
- 1. A Method of Estimating Py
- 2. Empirical Evidence on Py
- 3. Comparison of Estimates of Py with Estimated Income Elasticity of Consumption
- 4. Correlation of the Ratio of Savings to Income in Consecutive Years
- Appendix-Correlation between Savings Ratios in Two Consecutive Years
- CHAPTER VIII-A Miscellany
- 1. Regression of Income on Consumption
- 2. Application of Permanent Income Hypothesis to Individual Categories of Consumption
- 3. Relevance to the Analysis of the Distribution of Income
- 4. Connection between the Permanent Income Hypothesis and the Distribution of Wealth
- 5. Additional Tests of the Permanent Income Hypothesis
- CHAPTER IX-Summary and Conclusion
- 1. Summary Statement of Hypothesis
- 2. Evidence on the Acceptability of the Permanent Income Hypothesis
- 3. Generalizations about Consumer Behavior Based on the Hypothesis
- 4. Implications of the Hypothesis for Research
- 5. Substantive Implications of the Hypothesis
- a. ECONOMIC DEVELOPMENT
- b. ECONOMIC FLUCTUATIONS
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