Examining the Consumption Behavior of Households Caused by Changing the Utility Function Using the DSGE Model

Document Type : Research Paper

Author

Department of Economics , Chabahar Maritime University, Chabahar , Iran

Abstract

The utility function and consumption behavior within a society wield profound influence over both household conduct and broader macroeconomic dynamics, thereby exerting a pivotal role in fostering economic growth and prosperity. Consequently, the examination and analysis of household consumption behavior stand as a cornerstone in economic inquiry and policy formulation. This study employs a Dynamic Stochastic General Equilibrium (DSGE) model to emulate, scrutinize, and elucidate the intricacies of household macroeconomic variables, particularly delving into the repercussions of economic perturbations while considering shifts in household budget constraints. Utilizing statistical data spanning the period from 1977 to 2020, this research introduces three distinct models to underscore the gravity of the subject matter. The empirical findings from our investigation reveal an intriguing outcome: when subjected to alterations in the utility function governing consumption behavior, all three models exhibited remarkably similar responses to the ensuing shock. Notably, the second model demonstrated the least volatility in consumption fluctuations, concurrently displaying the highest degree of serial correlation with the consumption variable. Conversely, the third model displayed the most pronounced interplay between production and consumption variables, as evidenced by our comparative analysis of consumption variable changes across the trio of models proffered herein. This study delves into the intricate nexus of utility functions and household consumption behavior, offering invaluable insights into the macroeconomic underpinnings that shape our societies.

Keywords

Main Subjects


Article Title [Persian]

بررسی رفتار مصرفی خانوارها ناشی از تغییر تابع مطلوبیت با استفاده از مدل DSGE

Author [Persian]

  • حمیدرضا ایزدی
گروه اقتصاد، دانشگاه دریانوردی و علوم دریایی چابهار، چابهار، ایران
Abstract [Persian]

نقش و عملکرد تابع مطلوبیت و الگوی مصرف هر جامعه‌ای، نقش برجسته‌ای در دستیابی آن جامعه به توسعه و رفاه داشته زیرا تغییرات آن، تأثیرات قبل توجهی بر رفتار خانوار و دیگر متغیرهای کلان اقتصادی دارد. از این رو بررسی و تحلیل رفتار مصرفی خانوارها از جهت چگونگی تصمیمات، تخصیص کالاها و خدمات مختلف با توجه به تغییر در محدودیت بودجه‌ای  خانوار  یکی از مباحث مهم و تاثیرگزار در علم اقتصاد و به جهت سیاستگزاری به شمار می‌رود. یک مدل اقتصاد باز کوچک با بازارهای دارایی ناقص دارای یک حالت پایدار است که این حالت، به موقعیت‌های اولیه مدل و پویایی تعادل بستگی دارد که در این مقاله تغییرات متعددی برای مدل‌های استاندارد موجود پیشنهاد شده تا بتوان با تحریک و تغییر حالت پایدار، تغییرات مدل را مشاهده نمود. این مقاله یک روش کمی از روش‌های جایگزین را نشان داده و سه مدل با مشخصات متفاوت را در نظر می‌گیرد: (1) مدلی با عامل تنزیل درونزا. (2) مدلی با حق بیمه نرخ بهره کشش بدهی. (3) مدل هزینه‌های تعدیل پرتفولیو.با توجه به اهمیت این موضوع، این مطالعه با معرفی سه مدل متفاوت فوق به شبیه-سازی، بررسی و تبیین رفتار متغیرهای کلان اقتصادی خانوار و آثار شوک اقتصادی با استفاده از داده‌های آماری سال 1977  لغایت 2020 در چارچوب یک مدل DSGE میپردازد. نتایج حاکی از آن است با تغییر تابع مطلوبیت واکنش رفتاری متغیر مصرف به شوک ایجاد شده در هر سه مدل شبیه می‌باشد و تفاوت چشم گیری دیده نمیشود. اما با مقایسه تغییرات متغیر مصرف در سه مدل ارائه شده در این تحقیق میتوان گفت که کمترین نوسانات و بیشترین همبستگی سریالی مربوط به متغیر مصرف در مدل دوم و بیشترین همبستگی بین متغیرهای تولید و مصرف در مدل سوم دیده میشود. این مطالعه به پیوند پیچیده توابع مطلوبیت و رفتار مصرفی خانوار اشاره داشته و بینش‌های ارزشمندی را در زمینه زیربنای اقتصاد کلان به‌ویژه رفتار مصرفی که جوامع مصرفی ما را شکل می‌دهد، ارائه می‌نماید.

Keywords [Persian]

  • تابع مطلوبیت
  • رفتار مصرفی
  • مدل DSGE
  • خانوار
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