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| Author: | Molana, H. |
| Title: | Consumption and fiscal policy |
| Journal: | Empirical Economics
1997 : VOL. 22:1, p. 63-82 |
| Index terms: | CONSUMPTION FISCAL POLICY ECONOMICS |
| Language: | eng |
| Abstract: | This paper uses the life-cycle approach to derive an equilibrium intratemporal efficiency condition which relates the marginal utility of consumption of nondurable goods and services to the marginal utility of consumption of services from durable goods. Given this condition and the assumption that marginal utilities are affected by the level of public spending, a long-run relationship between components of private consumption and public expenditure is then postulated. |
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