Consumer Economics

A special issue of Economies (ISSN 2227-7099).

Deadline for manuscript submissions: closed (31 May 2023) | Viewed by 4453

Special Issue Editors


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Guest Editor
Department of Economics Sciences, University of Agricultural Sciences and Veterinary Medicine, 400372 Cluj-Napoca, Romania
Interests: tourism management; rural development; sustainable development
Special Issues, Collections and Topics in MDPI journals

E-Mail Website
Guest Editor
Department of Economic Sciences, University of Agricultural Sciences and Veterinary Medicine Cluj-Napoca, 3-5 Manastur Street, 400372 Cluj-Napoca, Romania
Interests: rural development; farm management; consumer behaviour; marketing management and agribusiness
Special Issues, Collections and Topics in MDPI journals

E-Mail Website
Guest Editor
Department of Economic Sciences, University of Agricultural Sciences and Veterinary Medicine, 400372 Cluj-Napoca, Romania
Interests: value chain; agri-food supply chains; agribusiness; rural development; sustainable development; rural tourism; agricultural economy; cluster; tourism management; entrepreneurship
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

The aim of this Special Issue of Economics is to present the most recent results of research in the field of consumers’ research. Consumers represent an important part of the economic process since the whole production process is based on consumers’ needs. Technological and social changes from recent years have led to more complex decision-making processes among consumers. The COVID-19 pandemic has had a significant impact on this due to changes in shopping habits and consumption patterns. Research on consumers’ behavior provides valuable information to producers in terms of consumers’ needs, preferences, and consumption patterns, leading to competitive advantages for producers, no matter what goods or services are being produced. There are several factors that affect consumers’ decision-making processes, e.g., motives, learning, perceptions, beliefs and attitudes, personality, life cycle.

This Special Issue invites researchers to submit original research and reviews on consumers’ demands, consumers’ behavior, consumer education, consumer psychology, consumers’ ecosystems, and family and household studies, including innovative research perspectives and insights from interdisciplinary fields.

Dr. Iulia Cristina Muresan
Prof. Dr. Diana Elena Dumitraș
Prof. Dr. Horațiu Felix Arion
Guest Editors

Manuscript Submission Information

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Keywords

  • consumer behavior
  • sustainable consumption
  • purchase intention
  • consumer lifestyle
  • shopping patterns
  • e-commerce

Published Papers (1 paper)

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Research

25 pages, 754 KiB  
Article
The Effect of Interest Rate Changes on Consumption: An Age-Structured Approach
by Roman Kozlov
Economies 2023, 11(1), 23; https://doi.org/10.3390/economies11010023 - 11 Jan 2023
Cited by 2 | Viewed by 21630
Abstract
Interest rates have generally trended downward over the past several decades. It has made borrowing cheaper, which has encouraged people to spend more. It has also made saving less attractive, contributing to increased consumption. At the same time, the role of household credit [...] Read more.
Interest rates have generally trended downward over the past several decades. It has made borrowing cheaper, which has encouraged people to spend more. It has also made saving less attractive, contributing to increased consumption. At the same time, the role of household credit increased significantly. The paper suggests a model for the effect of an interest rate change on household consumption, which relies on income and loans. The model is based on methods of the optimal control theory. The approach is age-structured: households reconsider their consumption patterns at the moment of the interest rate change and the changes in consumption patterns are age dependent. The consumption changes for different age groups contribute to the modification of aggregate consumption. Numerical simulation shows that a decrease in the interest rate leads to a consumption boost (a substantial increase in consumption in the short run), which diminishes as time passes and consumption becomes fully adjusted to the new interest rate value. The consumption boost is achieved by an increase in the debt load. Full article
(This article belongs to the Special Issue Consumer Economics)
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