Aggregate Consumption： An Analysis by Numeric Simulation

作     者：Ricardo Luis Chaves Feij6 

作者机构：University of Sao Paulo Ribeirao Preto Brazil 

出 版 物：《Chinese Business Review》 (中国经济评论（英文版）)

年 卷 期：2017年第16卷第8期

页      面：403-413页

学科分类：02[经济学] 0201[经济学-理论经济学] 020101[经济学-政治经济学] 

主　　题：aggregate consumption numeric simulation general equilibrium stochastic process 

摘      要：It is estimated that the aggregate consumption behavior of families by computational procedures in an abstract model contemplates the maximization of agent utility in each period （two dates）, the attendance of budgetary restrictions and the conditions of general equilibrium （without production）. It uses the technique of selection of candidate points in a simulation process with a portfolio of efficient assets and a hypothesis for the process of determining the returns of the securities： A GARCH process. By this technique, it compares the stochastic volatility patterns between the artificial series, obtained in the simulation, and the real series of household aggregate consumption in the US and Brazil.