单词 | aggregation |
释义 | aggregation The relation between the behaviour of totals and that of their components. Suppose, for example, that for each of N individuals i = 1, 2,…,N, i's consumption, Ci, is given by Ci = ai + bi Ydi, where Ydi is i's disposable income. Can these consumption function be aggregated to give a function of the form C = a + bYd, where C and Yd are national aggregates? If all the bi were equal, it would not matter if the ai differed, as they could simply be added. If the bi vary, however, a precise aggregate relation can only be derived from the individual consumption functions if we know how marginal changes in income will be distributed among the N individuals. If this is not known, any aggregate consumption function will only hold approximately. Similar problems arise with most economic aggregates. |
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