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Consumption and its function: Exploring the Time-Series "Consumption Function" in Australia 1959-60 to 2005-06

Vu, Jo and Doughney, James (2009) Consumption and its function: Exploring the Time-Series "Consumption Function" in Australia 1959-60 to 2005-06. International Review of Business Research Papers, 5 (1). pp. 265-276. ISSN 1837-6585

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Abstract

This paper revisits the traditional economic consumption function, in timeseries form. Motives of economic agents differ. We locate the decision to consume by households in a brief economic-philosophical consideration of motives and causation. Of special interest are the original constructions of John Maynard Keynes. The aim here is to describe how consumption figures in the Australian economy. This translates in practice into explaining the consumption mechanism and accounting for it with reasonable empirical confidence. We assume that readers understand reasonably well how national income accounting works. While Australia, 1960 to 2005, will act as a case study, the description should have wider validity.

Item Type: Article
Uncontrolled Keywords: ResPubID17314, economic consumption function, timeseries form, economic agents, economic-philosophical considerations, consumption in Australian economy
Subjects: Faculty/School/Research Centre/Department > School of Economics and Finance
FOR Classification > 1402 Applied Economics
SEO Classification > 970114 Expanding Knowledge in Economics
Depositing User: VUIR
Date Deposited: 22 Sep 2011 06:17
Last Modified: 22 Sep 2011 06:17
URI: http://vuir.vu.edu.au/id/eprint/4663
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