ADVANCED MACROECONOMICS Lecture 8 Consumption 电子科大经管学院马捷
ADVANCED MACROECONOMICS Lecture 8 Consumption 电子科大经管学院 马捷 1
Contents Review Consumption under Certainty -Consumption under Uncertainty Empirical Application ·Aggregate data Homework ·Household data Optimal Lifetime Portfolio 电子科大经管学院马捷 2
Contents Review Consumption under Certainty Consumption under Uncertainty Empirical Application • Aggregate data • Household data Optimal Lifetime Portfolio 电子科大经管学院 马捷 Homework 2
Review A.Consumption: C=fY)） B.Marginal Propensity of Consumption, MPC=f(Y) 电子科大经管学院马捷 3 元元元元元
Review A. Consumption： C= f(Y) B. Marginal Propensity of Consumption, MPC=f’(Y) 电子科大经管学院 马捷 3
Example of Decreasing MPC Y() C(2) C/Y(3) MPC(4) A 9000 9110 1.01 B 10000 10000 1.00 0.89 C 11000 10850 0.99 0.85 D 12000 11600 0.97 0.75 E 13000 12240 0.94 0.64 F 14000 12830 0.92 0.59 G 15000 13360 0.89 0.53 电子科大经官学阮与捷 元元元元元
Example of Decreasing MPC Y(1) C(2) C/Y(3) MPC(4) A 9000 9110 1.01 B 10000 10000 1.00 0.89 C 11000 10850 0.99 0.85 D 12000 11600 0.97 0.75 E 13000 12240 0.94 0.64 F 14000 12830 0.92 0.59 G 15000 13360 0.89 0.53 电子科大经管学院 马捷 4
MPC and C Curve C Short term C curve 4 C=C+cY 3 2 1 0 1 2 3 4 电子科大经管学院马捷 5
MPC and C Curve Short term C curve C= Ｃ + ｃ Y 0 1 1 2 2 3 3 4 4 C Y 电子科大经管学院 马捷 5