Research on Two Economic Laws of Household Consumption Function
Jimmy Alani
Broschiertes Buch

Research on Two Economic Laws of Household Consumption Function

A Case of Kenya

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The paper investigates two economic laws of household consumption over the 1960 to 2020 period by taking Kenya as a case study and using the generalized least (GLS) method. The two laws are: (a) The household marginal propensity to consume (MPC) in the short run is not significantly different from 0.43. (b) In the long run the household MPC is not significantly different from the positive square root of 0.43. These two laws fall within the campus of the Keynesian consumption function. Empirical findings from fifteen consumption models indicate that values of the long run MPC in Kenya during th...