consumption theory in the West, in relation to the question of whether and how income distribution affects aggregate consumption …, thereby showing that the relative income hypothesis (RIH) is the only consumption theory that is consistent with the existing … theory per se and in relation to the discussion of whether China's growing income inequality has adversely affected its …

that allows for random preference shocks and additive separability. The latter feature allows us to take two estimation … some restrictive assumptions on the model that are not required for the first estimation approach. Thus, the two different …

-Standard Theorie des Haushaltskonsums, die Relative Einkommenshypothese, zurück. Es wird argumentiert, dass steigende …, saving, and debt for the 1920s by applying a non-standard theory of consumption, the relative income hypothesis, to the …