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New Development in Theory of Consumption Function
LIU Jiang-li, ZHAO Feng
Teaching and Research
2005, (6):
65-71.
The theory of consumption function is an important field in macroeconomics, which is of practical significance to analysis of operation in macroeconomics. This article offers a brief review of the early theory of consumption function. Based on this review, some modern representative models of consumption function under the influence of rational prediction theory in the late 1970s are introduced. Then future prospect of development in the theory of consumption function is discussed.
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