### 经济代写|宏观经济学代写Macroeconomics代考|The propensity to consume and the inducement to invest

statistics-lab™ 为您的留学生涯保驾护航 在代写宏观经济学Macroeconomics方面已经树立了自己的口碑, 保证靠谱, 高质且原创的统计Statistics代写服务。我们的专家在代写宏观经济学Macroeconomics代写方面经验极为丰富，各种代写宏观经济学Macroeconomics相关的作业也就用不着说。

• Statistical Inference 统计推断
• Statistical Computing 统计计算
• (Generalized) Linear Models 广义线性模型
• Statistical Machine Learning 统计机器学习
• Longitudinal Data Analysis 纵向数据分析
• Foundations of Data Science 数据科学基础

## 经济代写|宏观经济学代写Macroeconomics代考|The propensity to consume and the inducement to invest

Keynes hypothesized that consumption (measured as real consumption in wage units, of course) is a relatively stable function of the income (also measured in wage units) that corresponds to a particular level of employment. Consumption could have been made a function of employment, but Keynes decided to switch the variable to income because he thought that it is a good approximation to regard income as determined uniquely by employment. We shall use the conventional notation of $\mathrm{C}$ for consumption and $\mathrm{Y}$ for income, both in real terms, so consumption is a function of income:
$$C=c(Y)$$
Keynes asserted (1936, p. 96) that this function followed a “fundamental psychological law … that men are disposed, as a rule and on the average, to increase their consumption as their income increases, but not by as much as the increase in their income.” For example, a linear function with a slope less than $1.0$ matches this psychological law:
$\mathrm{C}=\mathrm{a}+\mathrm{bY}, \quad$ with b less than $1.0$ and greater than $0 .$
An increase in $Y$ of 1 wage unit increases $C$ by $b$ wage units, a number less than $1.0$ that is known as the marginal propensity to consume.
In Keynesian theory, saving is just the income not spent on consumption, so
$$S=Y-C=Y-(a+b Y)=Y(1-b)-a$$
Figure $2.3$ depicts this saving function. Note that saving increases with income at the rate of $(1-b)$. In Figure $2.3$, if $\mathrm{Y}$ increases by $1.0$, saving increases by $0.25$, and therefore consumption increases by $0.75$.

Keynes recognized that the position of the consumption function can be altered by several factors, including:

• Windfall changes in capital values (such as the value of one’s house);
• Changes in the rate of interest, which is both the cost of consumer borrowing and the return to saving;
• Changes in income taxes – fiscal policy; and
• Social incentives for saving.
Keynes (1936, pp. 92-95) thought that the first and third of these factors are potentially important in the short run but that the effect of changes in the rate of interest on consumption is relatively unimportant and that the social incentives for saving change slowly over time. In the end, Keynes believed that the demand for consumption was a stable function of current income. This conclusion led him to emphasize the famous multiplier, which was first introduced by his colleague R. F. Kahn in $1931 .$

## 经济代写|宏观经济学代写Macroeconomics代考|Interest rate theory

The remaining piece of Keynesian theory is his theory of the interest rate, the rate at which funds are supplied to those who would demand investment goods. His basic point is that the interest rate is the price of holding a portion of one’s assets in the form of cash or checking deposits, i.e., money (which earned no interest in those days). He called the demand for money liquidity preference. The Keynesian world has two assets – those that earn interest and the one that does not earn interest, called money. He believed that liquidity preference consisted of three parts. Money was demanded because of:

• The transactions motive (need for cash to carry on current exchanges), which is the basic motive assumed in the Quantity Theory of Money;
• The precautionary motive (desire for cash for security); and
• The speculative motive (desire for cash because the individual thinks he/she can outguess the market and make a profit from buying assets later at a lower price).

Consider this last motive, the speculative motive, a little more. People will hold money if they expect that the interest rate will increase (asset prices will fall). Why do asset prices fall when the interest rate rises? Suppose you own a $\$ 10,000$bond that pays$\$300$ in interest per year ( 3 percent). Suppose the general interest rate rises to 4 percent. Now an investor can earn $\$ 300$by investing less than$\$10,000(\$ 7,500$actually), and so now that investor is not willing to pay$\$10,000$ for your bond.

Keynes thought that, at some very low rate of interest, nearly everyone would expect that the interest rate will rise, asset prices will fall, and nearly everyone would demand money for speculative purposes. In this situation, any increase in the supply of money will simply be held by the public for speculation. Monetary policy is ineffective in this case. As Keynes (1936, p. 207) expressed:

There is the possibility … that, after the rate of interest has fallen to a certain level, liquidity preference may become virtually absolute in the sense that almost everyone prefers cash to holding a debt which yields so low a rate of interest. In this event the monetary authority would have lost effective control of the rate of interest.

## 经济代写|宏观经济学代写Macroeconomics代考|The Keynesian system according to Keynes

We now have all of the elements of the Keynesian system. Keynes restated the basic theory in Chapter 18 of the General Theory. As any good economist does, he began by stating his assumptions that the following elements of the economy were taken as given:

• The quantity and quality of labor and capital;
• The tastes and habits of the consumers;
• The degree of competition; and
• Other factors having to do with the nature of employment and how it is organized by firms.

So, now we are ready. Keynes’s first summary of the model is that the independent variables are the propensity to consume, the schedule of the marginal efficiency of capital, and the rate of interest. Given a rate of interest, the level of investment demand is determined by the schedule of the marginal efficiency of capital. The level of investment determines the level of income and employment through the propensity to consume by establishing the income level at which investment equals saving. A reduction in the interest rate causes an increase in investment and therefore an increase in income via the multiplier effect.
Keynes (1936, p. 246) went on to say that
the rate of interest depends partly on the state of liquidity-preference (i.e., on the liquidity function) and partly on the quantity of money measured in terms of wage-units. Thus we can sometimes regard our ultimate independent variables as consisting of the three fundamental psychological factors, namely, the psychological propensity to consume, the psychological attitude to liquidity, and the psychological expectation of future yield from capital-assets.

Note the word “sometimes” in this statement. Sometimes we can take the interest rate as given, and sometimes we work back to the demand for and supply of money to determine the interest rate. This version of the model is shown in Figure 2.5.

## 经济代写|宏观经济学代写Macroeconomics代考|The propensity to consume and the inducement to invest

C=C(是)

C=一个+b是,b 小于1.0并且大于0.

• 资本价值的意外变化（如房屋价值）；
• 利率的变化，既是消费者借贷的成本，也是储蓄的回报；
• 所得税的变化——财政政策；和
• 储蓄的社会激励。
Keynes (1936, pp. 92-95) 认为这些因素中的第一个和第三个因素在短期内可能很重要，但利率变化对消费的影响相对不重要，储蓄改变的社会激励随着时间的推移慢慢地。最后，凯恩斯认为消费需求是当前收入的稳定函数。这个结论使他强调了著名的乘数，这是由他的同事 RF Kahn 在1931.

## 经济代写|宏观经济学代写Macroeconomics代考|Interest rate theory

• 交易动机（需要现金进行流通交易），这是货币数量论假设的基本动机；
• 预防动机（以现金换取安全）；和
• 投机动机（渴望现金，因为个人认为他/她可以猜透市场并从以后以较低价格购买资产中获利）。

## 经济代写|宏观经济学代写Macroeconomics代考|The Keynesian system according to Keynes

• 劳动力和资本的数量和质量；
• 消费者的口味和习惯；
• 竞争程度；和
• 其他与就业性质和公司组织方式有关的因素。

## 有限元方法代写

tatistics-lab作为专业的留学生服务机构，多年来已为美国、英国、加拿大、澳洲等留学热门地的学生提供专业的学术服务，包括但不限于Essay代写，Assignment代写，Dissertation代写，Report代写，小组作业代写，Proposal代写，Paper代写，Presentation代写，计算机作业代写，论文修改和润色，网课代做，exam代考等等。写作范围涵盖高中，本科，研究生等海外留学全阶段，辐射金融，经济学，会计学，审计学，管理学等全球99%专业科目。写作团队既有专业英语母语作者，也有海外名校硕博留学生，每位写作老师都拥有过硬的语言能力，专业的学科背景和学术写作经验。我们承诺100%原创，100%专业，100%准时，100%满意。

## MATLAB代写

MATLAB 是一种用于技术计算的高性能语言。它将计算、可视化和编程集成在一个易于使用的环境中，其中问题和解决方案以熟悉的数学符号表示。典型用途包括：数学和计算算法开发建模、仿真和原型制作数据分析、探索和可视化科学和工程图形应用程序开发，包括图形用户界面构建MATLAB 是一个交互式系统，其基本数据元素是一个不需要维度的数组。这使您可以解决许多技术计算问题，尤其是那些具有矩阵和向量公式的问题，而只需用 C 或 Fortran 等标量非交互式语言编写程序所需的时间的一小部分。MATLAB 名称代表矩阵实验室。MATLAB 最初的编写目的是提供对由 LINPACK 和 EISPACK 项目开发的矩阵软件的轻松访问，这两个项目共同代表了矩阵计算软件的最新技术。MATLAB 经过多年的发展，得到了许多用户的投入。在大学环境中，它是数学、工程和科学入门和高级课程的标准教学工具。在工业领域，MATLAB 是高效研究、开发和分析的首选工具。MATLAB 具有一系列称为工具箱的特定于应用程序的解决方案。对于大多数 MATLAB 用户来说非常重要，工具箱允许您学习应用专业技术。工具箱是 MATLAB 函数（M 文件）的综合集合，可扩展 MATLAB 环境以解决特定类别的问题。可用工具箱的领域包括信号处理、控制系统、神经网络、模糊逻辑、小波、仿真等。