Marginal Propensity to Consume for a Sample of Kansas Farms
This paper examined the marginal propensity to consume (MPC) for a sample of Kansas farms. Sensitivity of estimated MPCs to the use of accrual net farm income, net cash farm income, and the inclusion of off-farm income was also examined. Results yielded a range of short-run MPCs from 0.011 to 0.015. Statistical tests suggested that the income coefficients used to compute short-run MPCs were not statistically different.
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- Martin Browning & Thomas F. Crossley, 2001.
"The Life-Cycle Model of Consumption and Saving,"
Journal of Economic Perspectives,
American Economic Association, vol. 15(3), pages 3-22, Summer.
- Martin Browning & Thomas F. Crossley, 2000. "The Life Cycle Model of Consumption and Saving," Social and Economic Dimensions of an Aging Population Research Papers 28, McMaster University.
- Martin Browning & Thomas Crossley, 2001. "The life-cycle model of consumption and saving," IFS Working Papers W01/15, Institute for Fiscal Studies.
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