<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2011-2106</journal-id>
<journal-title><![CDATA[Revista de Economía del Caribe]]></journal-title>
<abbrev-journal-title><![CDATA[rev. econ. Caribe]]></abbrev-journal-title>
<issn>2011-2106</issn>
<publisher>
<publisher-name><![CDATA[Editorial Universidad del Norte]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2011-21062009000200002</article-id>
<title-group>
<article-title xml:lang="en"><![CDATA[THE RELEVANCE OF DUESENBERRY CONSUMPTION THEORY! AN APPLIED CASE TO LATIN AMERICA]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Parada Corrales]]></surname>
<given-names><![CDATA[Jairo]]></given-names>
</name>
<xref ref-type="aff" rid="A01"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Bacca Mejia]]></surname>
<given-names><![CDATA[William]]></given-names>
</name>
<xref ref-type="aff" rid="A02"/>
</contrib>
</contrib-group>
<aff id="A01">
<institution><![CDATA[,Universidad del Norte  ]]></institution>
<addr-line><![CDATA[Barranquilla ]]></addr-line>
<country>Colombia</country>
</aff>
<aff id="A02">
<institution><![CDATA[,Universidad del Norte  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
</aff>
<aff id="A03">
<institution><![CDATA[,Universidad del Norte  ]]></institution>
<addr-line><![CDATA[Barranquilla ]]></addr-line>
<country>Colombia</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>12</month>
<year>2009</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>12</month>
<year>2009</year>
</pub-date>
<numero>4</numero>
<fpage>19</fpage>
<lpage>36</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S2011-21062009000200002&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S2011-21062009000200002&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S2011-21062009000200002&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="en"><p><![CDATA[In this paper we examine the to-date relevance of Duesenberry's Consumption Theory through an applied case to four economies in Latin America: Mexico, Brazil, Argentina and Colombia. Using annual time series of these countries we show that some empirical evidence of Duesenberry's theory still holds and should not be discarded in modern macroeconomics as it has happened in regular macro text books in mainstream economics. Duesenberry's theory includes important institutional factors that cannot be replaced by the permanent income hypothesis or the life cycle hypotheses. In the paper we explore different specifications of the consumption functions based on the relevant literature. Final conclusions are presented.]]></p></abstract>
<abstract abstract-type="short" xml:lang="es"><p><![CDATA[En este trabajo se examina la relevancia de la teoria del consumo de Duesenberry a traves de un estudio de caso aplicado a cuatro economias de America Latina: Mexico, Brasil, Argentina y Colombia. A traves de series de tiempo y de algunas pruebas empiricas demostramos que la teoria de Duesenberry todavia tiene validez y no debe ser descartada de la macroeconomia moderna. Dicha teoria incluye importantes factores institucionales que no puede ser sustituida por la hipotesis del ingreso permanente o de la hipotesis del ciclo de vida. En este articulo se explora diferentes especificaciones de las funciones de consumo basadas en la literatura relevante.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Consumption Theory]]></kwd>
<kwd lng="en"><![CDATA[Duesenberry]]></kwd>
<kwd lng="en"><![CDATA[Latin America]]></kwd>
<kwd lng="es"><![CDATA[Teoria del Consumo]]></kwd>
<kwd lng="es"><![CDATA[Duesenberry]]></kwd>
<kwd lng="es"><![CDATA[Lati-noamerica]]></kwd>
</kwd-group>
</article-meta>
</front><body><![CDATA[  ]]></body><back>
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