The Consumption Function--a "fundamental psychological law," 281.--The time-preference postulate--another "fundamental psychological law," 285.-- Is the pure interest rate already zero?

Consumption-habits have become an integral component in new Keynesian models. However, consumption-habits can be modeled in a host of different ways and this diversity is reflected in the literature.

Cambridge Journal of Economics, Vol. 39, No. 1 (January 2015), pp. 93-112 (20 pages) The outbreak of the financial crisis in 2008 witnessed a significant contraction in US consumption spending, as ...

Where are the Zimbabweans? According to Financial Times reporter Joseph Cotterill, millions can be found in neighboring South Africa, along with other more economically vibrant locales. Cotterill ...