New Result in Consumption Theory:Change in Savings and Income Growth – Nineteen Years Later

Cheng K. Wu ()
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Cheng K. Wu: Growonders Corp., USA.

Journal of Economics Library, 2016, vol. 3, issue 1, 77-81

Abstract: This new version uses the definitions and some of the results found in Sargent’s Macroeconomic Theory. Hall’s (1978) proof of the corollary 4,ct+1 = ct, can be found in Flavin (1981). Writing the same consumption stated in Flavin, for period t+1, in a different way for the summation of the expected future incomes, it is possible to show that changes in savings is a function of income growth. This new result has implications, for instance, in Keynes’ (1936) saving and dissaving.

Keywords: Consumption; Martingale; Savings; Growth; Income. (search for similar items in EconPapers)
JEL-codes: B00 E12 E21 F41 J30 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (3)

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