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Expectations, Consumption, and Investment
Consumption ,[object Object]
The Very Foresighted Consumer ,[object Object],[object Object],[object Object]
Toward a More Realistic Description ,[object Object],[object Object],human wealth, or the expected present value of after-tax labor income real taxes in year  t . real labor income in year  t .
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Shifts in the consumption function
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Determinants of family income:
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Putting Things Together:  Current Income, Expectations, and Consumption ,[object Object],[object Object],[object Object]
Putting Things Together:  Current Income, Expectations, and Consumption ,[object Object],[object Object],[object Object],[object Object]
Investment ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Investment ,[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Investment and Expectations of Profit ,[object Object],[object Object],[object Object]
Investment and the Stock Market ,[object Object],[object Object]
Profitability Versus Cash Flow ,[object Object],[object Object],[object Object]
The Volatility of Consumption and Investment ,[object Object],[object Object]

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Consumption and investment