permanent consumption
1Consumption smoothing — is the economic concept used to express the desire of people for having a stable path of consumption. Since Milton Friedman s permanent income theory (1956) and Modigliani and Brumberg (1954) life cycle model, the idea that agents prefer a stable …
2consumption — /keuhn sump sheuhn/, n. 1. the act of consuming, as by use, decay, or destruction. 2. the amount consumed: the high consumption of gasoline. 3. Econ. the using up of goods and services having an exchangeable value. 4. Pathol. a. Older Use.… …
3Permanent income hypothesis — The permanent income hypothesis (PIH) is a theory of consumption that was developed by the American economist Milton Friedman. In its simplest form, PIH states that the choices made by consumers regarding their consumption patterns are determined …
4Consumption function — In economics, the consumption function is a single mathematical function used to express consumer spending. It was developed by John Maynard Keynes and detailed most famously in his book The General Theory of Employment, Interest, and Money. The… …
5Permanent war economy — The concept of permanent war economy originated in 1944 with an article by Ed Sard (alias Frank Demby, Walter S. Oakes and T.N. Vance; he was a Trotskyist from the 1930s) who predicted a post war arms race. He argued at the time that the USA… …
6consumption function — ▪ economics in economics, the relationship between consumer spending and the various factors determining it. At the household or family level, these factors may include income, wealth, expectations about the level and riskiness of future… …
7Consumption (economics) — Economics …
8Permanent Income Hypothesis — A theory of consumer spending which states that people will spend money at a level consistent with their expected long term average income. The level of expected long term income then becomes thought of as the level of “permanent”… …
9Intertemporal consumption — Economic theories of intertemporal consumption seek to explain people s preferences in relation to consumption and saving over the course of their life. The earliest work on the subject was by Irving Fisher and Roy Harrod who described hump… …
10Hypothese du revenu permanent — Théorie du revenu permanent La théorie du revenu permanent ou l hypothèse du revenu permanent est une théorie de Milton Friedman, élaborée en 1957, période où la doctrine keynésienne est dominante. Dans sa forme la plus simple, la théorie stipule …
