宏觀經(jīng)濟學(xué)consumption-展示頁
2024-09-12 15:02本頁面
【正文】 n consumption function ? Based on the Keynesian consumption function, 經(jīng)濟學(xué)家預(yù)測 C would grow more slowly than Y over time. ? 這一預(yù)測并不是真實的 : ?當(dāng)收入上升， APC 沒有下降，并且 C 和收入以相同速度在增長。 slide 7 CHAPTER 16 Consumption The Consumption Puzzle C Y Consumption function from long time series data (constant APC ) Consumption function from crosssectional household data (falling APC ) slide 8 CHAPTER 16 Consumption Irving Fisher and Intertemporal Choice ? 許多關(guān)于消費理論工作的基礎(chǔ) . ? 假定消費者是 forwardlooking 并且選擇當(dāng)期和未來時期的消費來最大化終生效用。 slide 9 CHAPTER 16 Consumption The basic twoperiod model ? Period 1: the present ? Period 2: the future ? Notation Y1, Y2 = ine in period 1, 2 C1, C2 = consumption in period 1, 2 S = Y1 C1 = saving in period 1 (S 0 if the consumer borrows in period 1) slide 10 CHAPTER 16 Consumption Deriving the intertemporal budget constraint ? Period 2 budget constraint: 22 ( 1 )C Y r S? ? ?2 1 1( 1 ) ( )Y r Y C? ? ? ? Rearrange terms: 1 2 2 1( 1 ) ( 1 )r C C Y r Y? ? ? ? ?? Divide through by (1+r ) to get… slide 11 CHAPTER 16 Consumption The intertemporal budget constraint 221111CYCYrr? ? ???終生消費的現(xiàn)值 終生收入的現(xiàn)值 slide 12 CHAPTER 16 Consumption The intertemporal budget constraint The budget constraint shows all binations of C1 and C2 that just exhaust the consumer’s resources. C1 C2 12 (1 )Y Y r??12(1 )r Y Y??Y1 Y2 Borrowing Saving Consump = ine in both periods 221111CYCYrr? ? ???slide 13 CHAPTER 16 Consumption The intertemporal budget constraint The slope of the budget line equals (1+r ) C1 C2 Y1 Y2 1 (1+r ) 221111CYCYrr? ? ???slide 14 CHAPTER 16 Consumption Consumer preferences An indifference curve 表明 C1 and C2 所有組合都使得消費者同等快樂。 slide 15 CHAPTER 16 Consumption Consumer preferences Marginal rate of substitution (MRS ): 消費者愿意用多少單位的 C2 來替換一個單位的 C1. C1 C2 IC1 The slope of an indifference curve at any point equals the MRS at that point. 1 MRS slide 16 CHAPTER 16 Consumption Optimization 最優(yōu)的 (C1,C2) 組合是 the budget line just touches the highest indifference curve. C1 C2 O At the optimal point, MRS = 1+r slide 17 CHAPTER 16 Consumption How C responds to changes in Y Y1 or Y2 的增加shifts the budget line outward. C1 C2 結(jié)果 : 假設(shè) C1 and C2 都是正常品， C1 and C2 both increase, … 無論收入增加時發(fā)生在 in period 1 or period 2. 消費取決于現(xiàn)期和未來收入的現(xiàn)值 slide 18 CHAPTER 16 Consumption Keynes vs. Fisher ? Keynes: 當(dāng)期消費僅僅取決于當(dāng)期的收入。 slide 19 CHAPTER 16 Consumption A How C responds to changes in r r 上升將預(yù)算線圍繞 點 (Y1,Y2 )轉(zhuǎn)動 . C1 C2 Y1 Y2 B 如同圖表 , C1 下降 and C2 上升 . 然而， it could turn out differently… slide 20 CHA
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