A structure of the consumption function

  title={A structure of the consumption function},
  author={Hsiang-ke Chao},
  journal={Journal of Economic Methodology},
  pages={227 - 248}
  • H. Chao
  • Published 1 June 2007
  • Mathematics
  • Journal of Economic Methodology
It is claimed in the structural realism in philosophy of science that scientists aim to preserve the true structure, represented by the equations in their models. We reinterpret structural realism as a doctrine involving representation. Proving the existence of a representation theorem secures the problem of lacking independent criteria for identification between structure and non‐structure. This paper argues that a similar realist view of structure can be found in the theory of consumption in… 
4 Citations
The Strength of the Veblenian Critique of Neoclassical Economics
More than one hundred years ago, Thorstein Veblen wrote a powerful critique of neoclassical economics that castigated the discipline for turning the individual into a “lightning calculator of
The STS Challenge to Philosophy of Science in Taiwan
This article discusses the relation between the tradition of the philosophy of science and the tradition of science, technology, and society (STS) studies in Taiwan. The swiftly rising popularity of
Impact of Road on Rural Poverty Evidence Form Fifteen Rural Villages in Ethiopia
A major road sector investment program has been under way in Ethiopia since 1997 which led to significant improvement in road accessibility. As a low-income country with no railway and water
It takes a model to beat a model
  • H. Chao
  • Journal of Economic Methodology
  • 2021


A Theory of the Consumption Function
What is the exact nature of the consumption function? Can this term be defined so that it will be consistent with empirical evidence and a valid instrument in the hands of future economic researchers
Codes for A Theory of the Consumption Function, With and Without Liquidity Constraints
Fifteen years ago, Milton Friedman’s 1957 treatise A Theory of the Consumption Function seemed badly dated. Dynamic optimization theory had not been employed much in economics when Friedman wrote,
The Emergence of the Neoclassical Consumption Function: The Formative Years, 1940–1952
History, if viewed as a repository for more than anecdote or chronology, could produce a decisive transformation in the image of science by which we are now possessed (Kuhn, 1962a, p. 1). Certain
Consumption Demand
Consumption is the largest component of GDP. Since the 1950s, the life cycle and the permanent income models have constituted the main analytical tools to the study of consumption behavior, both at
Economic theorizing: A causal structuralist account with examples from international trade theory.
This thesis applies the concept of causal structure to the discussion of economic explanation. It uses this discussion and examples from international trade theory to provide an account of economic
The epistemological status of scientific theories : an investigation of the structural realist account
In this dissertation, I examine a view called 'Epistemic Structural Realism', which holds that we can, at best, have knowledge of the structure of the physical world. Put crudely, we can know
Causality in Macroeconomics
First published in 2001, Causality in Macroeconomics addresses the long-standing problems of causality while taking macroeconomics seriously. The practical concerns of the macroeconomist and abstract
This article aims to illuminate two sets of consumption puzzles. The first concerns the behavior of aggregate saving rates in the 1980s and early 1990s: collapse and rebound in Scandinavia and the
Is Structural Realism Possible
This paper examines in detail two paths that lead to Structural Realism (SR), viz. a substantive philosophical position which asserts that only the structure of the world is knowable. The upward path
The Philosophy of Economics: Econometrics as Observation: The Lucas Critique and the Nature of Econometric Inference
Kevin Hoover (1955–) received a D.Phil. in economics from Oxford University after an undergraduate major in philosophy, and his work reflects this dual competence. He has contributed both to