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Capital Market Imperfection, the Consumption Function, and the Effectiveness of Fiscal Policy

Walter Perrin Heller¹; Ross M. Starr²

¹ University of California San Diego · ² University of California, Davis

I. Income and consumption, 455.—II. Optimal consumption plans subject to borrowing constraint, 457.—III. Dependence of consumption on income in the short run: a consumption function, 460.—IV. Summary, 462.

DOI

10.2307/1883170

Volume

93 (3)

Pages

455

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