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The book presents the permanent income hypothesis (PIH), a significant theory developed by Friedman to address shortcomings in classical Keynesian consumption theory, particularly regarding the stability of savings rates amid rising real incomes. Friedman synthesizes various competing theories of consumer behavior, framing them as special cases within his broader hypothesis. He supports his claims with statistical evidence, making a compelling case for understanding consumer behavior in economic contexts.
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A Theory of the Consumption Function, Rose D. Friedman
- Taal
- Jaar van publicatie
- 2015
- product-detail.submit-box.info.binding
- (Paperback)
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- Taal
- Engels
- Auteurs
- Rose D. Friedman
- Uitgever
- Martino Fine Books
- Jaar van publicatie
- 2015
- Formaat
- Paperback
- Aantal pagina's
- 258
- ISBN13
- 9781614278122
- Reeks
- Beoordeling
- 3,65 van 5
- Aantekening
- The book presents the permanent income hypothesis (PIH), a significant theory developed by Friedman to address shortcomings in classical Keynesian consumption theory, particularly regarding the stability of savings rates amid rising real incomes. Friedman synthesizes various competing theories of consumer behavior, framing them as special cases within his broader hypothesis. He supports his claims with statistical evidence, making a compelling case for understanding consumer behavior in economic contexts.