act as if they are more risk averse and more willing to substitute consumption intertemporally. …

This is a short survey on consumption theory. Consumption is important to both fluctuation and growth. In addition … decisions in a dynamic context. Uncertainty about income and interest rates are introduce in the second part of the paper. The …

; second, inefficacy of temporary fiscal policy, which is chosen to be capital income taxation, has been demonstrated in …

Saving brings an economic loss. This is one of the basic propositions of the under-consumption theory. This paper aims …

incomplete income insurance (Huggett 1993, Wang 2003). We show that, under the assumption of CARA utility with Gaussian shocks …, the Permanent Income Hypothesis (PIH) arises in equilibrium, as in models with full information-rational expectations, due … consumption, income and wealth, and find that elastic attention can make the model fit the data better. We finally show that the …

public expenditure on national income and its components in Algeria. Optimal paths of these variables are designed by using …