Understanding Consumption (Clarendon Lectures in Economics) - Hardcover

Deaton, Angus

Hardcover

ISBN 10: 0198287593 ISBN 13: 9780198287599

Publisher: Clarendon Press, 1992

Synopsis

This work provides an overview of the recent research on the saving and consumption patterns of households, a field in which substantial progress has been made over the last few decades. The attempts by economists to understand the saving and consumption patterns of households have generated some of the best science in economics. For more than 50 years, there has been serious empirical and theoretical activity, and the data and the theory have never been separated as has happened in many branches of economics. Research has drawn microeconomists interested in household behaviour, as well as macroeconomists, for whom the behaviour of aggregate consumption has always occupied a central role in explaining aggregate fluctuations. Econometricians have also made distinguished contributions, and there has been a steady flow of new methodologies by those working on saving and consumption, in time-series econometrics, as well as in the study of micro and panel data. A coherent account of these developments is presented here, emphasizing the interplay between the micro and the macro, between the studies of cross-section and panels, and those using the aggregate time series.

About this title

Review

There has been a veritable explosion of econometric work on consumption in recent years ... Angus Deaton has been behind some of it and is on top of all of it. There is no better way to get up to date. (Alan S. Blinder, Princeton University)

"Understanding Consumption is a masterful exposition ... not only adding to our understanding of the real world, but also revealing the excitement of the intellectual chase."Stanley Fischer

One of the many attractive features of this volume is the interplay between time-series analysis and individual data processes ... Deaton has not only provided an insightful analysis of what has been done but has also laid out a tantalizing research agenda. (Economica)

Book Description

Angus Deaton was the recipient of the 2015 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel

Edition details

• Publisher: Clarendon Press
• Publication date: 1992
• ISBN 10: 0198287593
• ISBN 13: 9780198287599
• Binding: Hardcover
• Language: English
• Number of pages: 255