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The digital edition of all books may be viewed on our website before purchase. Excerpt from Intertemporal Substitution in Macroeconomics (Classic Reprint)
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This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works. This text has been digitally restored from a historical edition. Some errors may persist, however we consider it worth publishing due to the work's historical value.The digital edition of all books may be viewed on our website before purchase.
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Intertemporal Substitution in Macroeconomics Classic Reprint
Vendeur : PBShop.store US, Wood Dale, IL, Etats-Unis
Évaluation du vendeur 5 sur 5 étoiles
PAP. Etat : New. New Book. Shipped from UK. Established seller since 2000. N° de réf. du vendeur LW-9781332266111
Quantité disponible : 15 disponible(s)
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Intertemporal Substitution in Macroeconomics Classic Reprint
Vendeur : PBShop.store UK, Fairford, GLOS, Royaume-Uni
Évaluation du vendeur 5 sur 5 étoiles
PAP. Etat : New. New Book. Shipped from UK. Established seller since 2000. N° de réf. du vendeur LW-9781332266111
Quantité disponible : 15 disponible(s)
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Intertemporal Substitution in Macroeconomics (Classic Reprint)
impression à la demandeVendeur : Forgotten Books, London, Royaume-Uni
Évaluation du vendeur 5 sur 5 étoiles
Paperback. Etat : New. Print on Demand. This book delves into the fascinating world of macroeconomics, specifically focusing on how individuals make decisions about their spending and work habits over time. The author challenges a fundamental assumption of many classical economic models: that people's choices about consumption and leisure are always rational and driven by an unchanging desire to maximize their well-being. By analyzing data from the U.S. economy, the author investigates whether observed patterns in spending and work hours are truly consistent with this idea of continuous optimization. The book utilizes a sophisticated econometric approach to test the validity of this assumption. The author analyzes three key economic relationships: the trade-off between present and future consumption, the trade-off between present and future leisure, and the relationship between consumption and leisure in a single period. The results, however, are far from conclusive. The data persistently reject the theoretical predictions of a simple model based on continuous optimization. The author meticulously explores alternative explanations for this discrepancy, including issues of data measurement, the complexity of individual preferences, and the influence of changing economic conditions. The book's findings ultimately question the prevailing assumption of continuous optimization in macroeconomics, offering a compelling argument for reevaluating our understanding of how people make choices in a dynamic economic environment. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. N° de réf. du vendeur 9781332266111_0
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