Capital Market Imperfection, the Consumption Function, and the Effectiveness of Fiscal Policy
Walter Perrin Heller, Ross M. Starr
The Quarterly Journal of Economics · 1979 · Volume 93 · Issue 3
Abstract
I. Income and consumption, 455.—II. Optimal consumption plans subject to borrowing constraint, 457.—III. Dependence of consumption on income in the short run: a consumption function, 460.—IV. Summary, 462.
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