A Theory of the Consumption Function

What is the exact nature of the consumption function? Can this term be defined so that it...
¥4,085 JPY
¥4,085 JPY
SKU: 9781773238319
Product Type: Books
Please hurry! Only 210 left in stock
Author: Milton Friedman
Format: Paperback
Language: English
Subtotal: ¥4,085
10 customers are viewing this product
A Theory of the Consumption Function by Friedman, Milton

A Theory of the Consumption Function

¥4,085

A Theory of the Consumption Function

¥4,085
Author: Milton Friedman
Format: Paperback
Language: English

What 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.



Author: Milton Friedman
Publisher: Must Have Books
Published: 03/15/2022
Pages: 254
Binding Type: Paperback
Weight: 0.83lbs
Size: 9.00h x 6.00w x 0.58d
ISBN: 9781773238319

This title is not returnable

Returns Policy

You may return most new, unopened items within 30 days of delivery for a full refund. We'll also pay the return shipping costs if the return is a result of our error (you received an incorrect or defective item, etc.).

You should expect to receive your refund within four weeks of giving your package to the return shipper, however, in many cases you will receive a refund more quickly. This time period includes the transit time for us to receive your return from the shipper (5 to 10 business days), the time it takes us to process your return once we receive it (3 to 5 business days), and the time it takes your bank to process our refund request (5 to 10 business days).

If you need to return an item, simply login to your account, view the order using the "Complete Orders" link under the My Account menu and click the Return Item(s) button. We'll notify you via e-mail of your refund once we've received and processed the returned item.

Shipping

We can ship to virtually any address in the world. Note that there are restrictions on some products, and some products cannot be shipped to international destinations.

When you place an order, we will estimate shipping and delivery dates for you based on the availability of your items and the shipping options you choose. Depending on the shipping provider you choose, shipping date estimates may appear on the shipping quotes page.

Please also note that the shipping rates for many items we sell are weight-based. The weight of any such item can be found on its detail page. To reflect the policies of the shipping companies we use, all weights will be rounded up to the next full pound.

Related Products

Recently Viewed Products