PPT-Precautionary Saving and the Marginal Propensity to Consume

Risk and Choice Conference in Honor of Louis Eeckhoudt The 5 th and 6 th derivatives Whenever I see Larry Summers he asks me How is the 6 th derivative doing or sometimes How is the 5. ksuedu Selected Paper prepared for Presentation at the Southern Agricultural Economics Annual Meeting Atlanta Georgi a January 31February 3 2009 Copyright 2009 by Michael Langemeier and Lindsey Snider All rights reserved Readers may make verbatim cop Measures . the ratio of the change in consumption to the change in disposable income that produces the change in consumption. Expressed as a number from 0 to 1. 1: For every additional dollar a person receives, they spend all of it. Overview:. What . do we use a propensity score for?. How do we construct the . propensity . score?. How do we implement propensity score estimation in STATA?. Joke (kind of…). Two heart surgeons (Jack and Jill) walk into a bar.. Making Sense of Non-Randomized Observational Data. Atul Sharma MD, MSc, FRCPC(ret). Biostatistical Consulting Unit. April 2014. Propensity score 1996 - 2013. RCT – the gold standard. R.A. Fisher: . in A deep sea mining context. Outline. 2. 3. What . is the. P. recautionary . principle?. 4. Precautionary Principle. Higher . level of environmental protection through precautionary decision-making in the case of . The . Precautionary Principle. is a strategy to cope with possible risks where scientific understanding is yet incomplete, such as the risks of . nano. technology, genetically modified organisms and systemic insecticides. Week#7. Fall 2014. Economics . 10/13/14 . http://. mrmilewski.com. OBJECTIVE. : . Demonstrate mastery of Chapters#23,24, & 26. . . AP Macro-I.E. Language objective. : . Write about the . 1.. Disposable income is the money one has after paying taxes (the money one has to live on).. Marginal Propensity to Consume. The increase in household savings when disposable income rises by $1. Marginal Propensity to Save. T. he . number of times a rise in GDP exceeds the rise in injections that caused it. .. Eg. . if £10M increase in net injections results in £10.4 increase in GDP then the multiplier is 1.4 . The Multiplier. in A deep sea mining context. Outline. 2. 3. What . is the. P. recautionary . principle?. 4. Precautionary Principle. Higher . level of environmental protection through precautionary decision-making in the case of . It expresses the relationship between total consumption expenditure and national income. C= f(Y). Keynes uses the term propensity to consume for consumption function.. Kurihara. . says, “ . Consumption represents the amount of consumption expenditure at a given level of income whereas the propensity to consume C/Y is a schedule of consumption expenditure at various levels of income.”. AD = . C. + I + G + X – M. Consumption. What determines the level of consumption, or whether consumption should rise or fall?. In pairs, discuss the influence on the card you have been given. You will need to prepare a presentation to the rest of the class. . C= f(Y). Keynes uses the term propensity to consume for consumption function.. Kurihara. . says, “ . Consumption represents the amount of consumption expenditure at a given level of income whereas the propensity to consume C/Y is a schedule of consumption expenditure at various levels of income.”. Outline. 2. 3. What . is the. P. recautionary . principle?. 4. Precautionary Principle. Higher . level of environmental protection through precautionary decision-making in the case of . risk. Where there is a risk of serious or irreversible damage to human health or the environment, precautionary action should be taken irrespective of the lack of absolute certainty with regard to its causes and impact. .