A Review Of Major Economic Studies By Angus Deaton

In 2015,Angus Deaton gained the Nobel Prize of economics.His main contribution to economics has three aspects:1.He put forward a new analysis of demand across commodities at a given point in time,with a focus on Deaton and Muellbauer's Almost Ideal Demand System;2.He help us to reexamine and evaluate the method that we how to use of the individual consumption data and that we how to construct aggregate consumption;3.He has contribution to welfare in developing countries,with a focus on measurement and analysis of the living standards of the poor.The AIDS demand system that Deaton and John Muellbauer introduced,and its subsequent extensions,remain in wide use-in academia as well as in practical policy evaluation.His research on aggregate consumption and the criticism of the representative consumer,and that he pioneered the analysis of individual dynamic consumption behavior under idiosyncratic uncertainty and liquidity constraints has become an important reference for follow-up studies.The analysis that he measurewelfare in developing countries,has got rid of the plight of being criticized in micro economic analysis,and promoted that there are many related research about the development economics.Angus Deaton's economic thought gives us profound enlightenment,it can draw on ideas and methods mainly include:firstly,the consumption is mainly affected by the current income,thus steadily improve people's current income is the important approach to expand consumption.Secondly,when making consumption policy,we should strengthen the research on consumer behavior of different income groups and consumers of different cultural backgrounds,targeted to develop different policies,to make consumption policies effective.Furthermore,the discussions about the optimal intertemporal consumption behavior of the consumer in the case of restricted borrowing is applicable to the vast majority of rural migrant worker's consumption behavior in our country.At the same time,his thoughts and methods about solve the poverty problem,also help our work that we are carried out the poverty alleviation and development work under the guidance of the strategic thinking of "precision poverty alleviation" in our country get better.His thoughts about poverty measurement and his thoughts that foreign aid will not help to solve poverty,inspire us when we are working in the process of poverty alleviation and development,especially when we arrange the poverty alleviation project and use funding,we should pay attention to the assessment work that we assess the situation of poverty in poor areas,and pay attention to whether it has the necessary conditions that implement the poverty alleviation projects or not.