are found not to equal zero and this in turns affects all estimates of consumption, labor supply and saving elasticities. … profit function rationalizing consumption, labor supply and savings is specified, estimated and used to test commonly … maintained separability hypotheses. Both consumption- labor and time separability are rejected. Cross-price Frisch elasticities …

. Money as a social representative of value, therefore, is introduced at the very beginning of Marx’s microeconomics. Marx …’s rejection of Ricardo’s interpretation of Say’s Law requires that money as a means of circulation and as a means of payment is … realisation of profits for the capitalist class as a whole requires money advances, which have to increase by means of rising …

indirect trade, money also must be used. Micro says that price is equal to marginal cost, rejecting trade theory’s claim that … trade is gainful. To remove these and other contradictions, price theory must be repaired. Money’s role in market clearing …

periodically but make consumption decisions on a more frequent basis. The model incorporates price uncertainty and imperfect credit … markets. The simulated numerical solution to this model shows that weekly consumption functions are ordered such that the …

future consumption and savings. . Although the motion of the consumer confidence index is of interest to both policymakers … consumption expenditure of Hungarian households. Our results suggest that, in addition to macro variables, the consumer confidence …