ESTIMATING THE CONSUMPTION FUNCTION OF CONSUMER GOODS IN IRAN

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ZARRA NEZHAD M.

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Journal: Iranian Journal of Economic Research Year:2003 | Volume:5 | Issue:16 Page(s): 23-46

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Title

ESTIMATING THE CONSUMPTION FUNCTION OF CONSUMER GOODS IN IRAN

Author(s)

ZARRA NEZHAD M. | Issue Writer Certificate

Keywords

CONSUMPTION FUNCTIONQ4

RURAL CONSUMPTIONQ4

URBAN CONSUMPTIONQ4

PERMANENT INCOME HYPOTHESISQ4

DURABLE GOODSQ4

NON-DURABLE GOODSQ4

Abstract

CONSUMPTION FUNCTION explains the relationship between consumption expenditures and income. This study aims to estimate the aggregate CONSUMPTION FUNCTION in Iran during 1974-1998. Considering the presence of duality in the economy of Iran, the study deals with CONSUMPTION FUNCTION in rural and urban sectors, separately In addition, another disaggregation has been made to consider the consumption of durable and NON-DURABLE GOODS in those two sectors. The study reviews the consumption theory of Keynes, Dusernberry, Modigliany as well as Friedman. Then it testes empirically these theories in the economy of Iran applying an econometric method using OLS, interactive Cochrane-Orcutt and two step Wallis technique. To avoid a spurious regression it was assured that all variables are cointegrated. Findings from this research show that the aggregate consumption in Iran during 1974-1998 is more compatible with Friedman’s theory of permanent income. Other related theories are not deliberately able to explain the consumption behaviour in Iran. The findings also show that the long-run CONSUMPTION FUNCTION in Iran slops up constantly with no intercept. Therefore, in the long run, the marginal propensity to consume in Iran equals the average propensity to consume.

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APA: Copy

ZARRA NEZHAD, M.. (2003). ESTIMATING THE CONSUMPTION FUNCTION OF CONSUMER GOODS IN IRAN. IRANIAN ECONOMIC RESEARCH, 5(16), 23-46. SID. https://sid.ir/paper/2751/en

Vancouver: Copy

ZARRA NEZHAD M.. ESTIMATING THE CONSUMPTION FUNCTION OF CONSUMER GOODS IN IRAN. IRANIAN ECONOMIC RESEARCH[Internet]. 2003;5(16):23-46. Available from: https://sid.ir/paper/2751/en

IEEE: Copy

M. ZARRA NEZHAD, “ESTIMATING THE CONSUMPTION FUNCTION OF CONSUMER GOODS IN IRAN,” IRANIAN ECONOMIC RESEARCH, vol. 5, no. 16, pp. 23–46, 2003, [Online]. Available: https://sid.ir/paper/2751/en

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