Consumption theory has always been a neglected field in post-Keynesian economics, whereas it is at the center of New … importance for consumption theory of an adequate treatment of risk and uncertainty on the one hand, and the role of social norms …

We develop a Keynesian model of aggregate consumption. Our theory emphasizes the importance of the relative income … hypothesis and debt finance for understanding household consumption behavior. It is shown that particular importance attaches to … savings by these households creates the potential for ‘sudden stops’ in consumption spending (and hence aggregate demand …

Many studies show that individuals do not perfectly smooth consumption at older ages. We argue that an important … explanation is that health status declines with age, making consumption at older ages less desirable. We incorporate health status … into a standard incomplete markets life-cycle model, by allowing the marginal utility of consumption to increase with …

, intertemporal lifecycle consumption optimization problem and the effect of revealing social information on past average consumption … in solving for the optimal consumption path. Instead, we find that the provision of social information on past average … levels of consumption results in a greater deviation of consumption from both the unconditional and the conditionally optimal …

on how many hours to work with obvious consequences for the household budget. We therefore model consumption and labor …

modelling and empirical analysis of sustainable structures in private consumption and strives to extend conventional economic … consumption models. Starting point for the model analysis of sustainable consumption of energy for transport purposes was the … (transport systems) and flows (mainly energy). Sustainable consumption patterns can arise, when within service demand production …

pecuniary externalities. Absent institutional constraints like prices and budgets, the optimal consumption rule would have … annuitize, the growth rate of marginal utility will be the discount rate minus the interest rate, resulting in a consumption … profile that is too flat. Accidental bequests transfer wealth from the old to the young, steepening the consumption profile …