A Model Approach to the Consumption Behaviour
| Authors | |
|---|---|
| Year of publication | 2005 |
| Type | Article in Proceedings |
| Conference | MendelNet 2005 |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | model of a representative household; consumption; utility function; aggregate demand; habit formation in consumption |
| Description | This paper describes some characteristics of consumption and model behaviour of a representative household. It is especially an implication of the first order condition, a relationship between consumption and aggregate demand and importance of habit formation in consumption. After the theoretical part, all discussed fields are verified and explained practically on data. |
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