A Model Approach to the Consumption Behaviour

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Authors

MUSIL Karel

Year of publication 2005
Type Article in Proceedings
Conference MendelNet 2005
MU Faculty or unit

Faculty of Economics and Administration

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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