THEORETICAL BASIS OF THE INSTITUTIONAL EXPLANATION OF THE CONSUMPTION FUNCTION

Journal: GISAP: Economics, Jurisprudence and Management (Vol.1, No. 1)

Publication Date: 2013-05-01

Authors : Arman Ruben Martirosyan; Margarita Eigazaryan;

Page : 19-20

Keywords : consumption; psychological factor; household incomes; consumption expenditures; disposable income; average propensity to consume; marginal propensity to consume; consumption function; linear dependence;

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Abstract

Authors analyze problems of consumption volumes on different stages of economic development from the institutional point of view. Ideas about consumption propensity over time are reviewed, overvalued, supplemented in the course of time alongside with other approaches. Economists believe that changes in the average propensity to consume could be expected because of the influence of institutional factors.

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THEORETICAL BASIS OF THE INSTITUTIONAL EXPLANATION OF THE CONSUMPTION FUNCTION

Abstract

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