A neglected controversy in the modelling of consumers' expenditure
指出消费函数早期历史中一个被忽视的争议，即消费的周期性本质，并通过递归估计表明对边际消费倾向变化的担忧是没有根据的。
In 1989 and 1992, Thomas noted the divergence of the 'stylised history' of the consumption function from the true sequence of events in its early history. To the list of overlooked elements can now be added the debate on the cyclical nature of consumption considered here. Analysis of the data used in the original studies shows a simplistic model considered at the time to be the 'best' available. This contrasts sharply with Spanos (1989), who was critical of the methods of the initial consumption researchers. However, use of recursive estimation shows concerns over a varying marginal propensity to consume to be unwarranted.