Household Consumption in Neoclassical Macroeconomics – Assumptions and Reality

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cris.sourceIdoai:journals.unwe.bg:article/532
dc.creatorDamyanov, Dimitaren
dc.date2019-08-01
dc.date.accessioned2026-09-24T23:13:21Z
dc.date.available2026-09-24T23:13:21Z
dc.descriptionThe main assumptions on which neoclassical economic theory is built and which underlie its recommendations for economic policy include the atomism and rationality in individual behaviour as well as the maximization of utility and profits. Along with several other key conditions, they also form the basis for the neoclassical theory of household consumption and saving. This paper presents several examples of deviations from these assumptions, based on the behaviour of Bulgarian households during the period 2000 – 2018. They highlight the need for a careful evaluation of prevailing conditions whenever we try to model economic dynamics and to develop and implement macroeconomic policies.en
dc.formatapplication/pdf
dc.identifierhttps://rp.unwe.bg/index.php/rp/article/view/532
dc.identifier10.37075/RP.2019.3.07
dc.identifier.urihttps://ds.e-dnrs.org/handle/123456789/1573
dc.languagebg
dc.publisherAcademic Publishing UNWE (AP-UNWE)en
dc.relationhttps://rp.unwe.bg/index.php/rp/article/view/532/524
dc.rightsCopyright (c) 2019 Dimitar Damyanov (Author)en
dc.rightshttps://creativecommons.org/licenses/by/4.0en
dc.sourceResearch Papers of UNWE; No. 3 (2019); 111-121en
dc.subjectConsumptionen
dc.subjectSavingen
dc.subjectConsumption smoothingen
dc.subjectLiquidity constraintsen
dc.subjectD15 - Intertemporal Household Choice • Life Cycle Models and Savingen
dc.subjectE21 - Consumption • Saving • Wealthen
dc.subjectE27 - Forecasting and Simulation: Models and Applicationsen
dc.titleHousehold Consumption in Neoclassical Macroeconomics – Assumptions and Realityen
dc.typePeer-reviewed Articleen

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