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Některé aspekty spotřební funkce v podmínkách České republiky 90. let
[Selected aspects of consumption function in the Czech Republic in the nineties]

Author

Listed:
  • Josef Arlt
  • Jindra Čutková
  • Štěpán Radkovský

Abstract

The character of the consumption function analysis in the Czech Republic is determined by short and non-stable period of the last ten years. The development of consumption in 1990 - 2000 can be divided into four partial different periods. The time series used in the econometric analysis are short. There are two principal econometric approaches to consumption function: Davidson, Hendry, Srba, Yeo approach and rational expectation approach based on the Hall's and Flavin's work. The permanent income hypothesis tests follow the rational expectation framework. The econometric models of consumption function based on the disposable and labor income reject the permanent income-life cycle hypothesis in the condition of the Czech Republic.

Suggested Citation

  • Josef Arlt & Jindra Čutková & Štěpán Radkovský, 2002. "Některé aspekty spotřební funkce v podmínkách České republiky 90. let [Selected aspects of consumption function in the Czech Republic in the nineties]," Politická ekonomie, Prague University of Economics and Business, vol. 2002(1).
    • Handle: RePEc:prg:jnlpol:v:2002:y:2002:i:1:id:344
    DOI: 10.18267/j.polek.344
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    Cited by:

    1. Richard Hindls & Stanislava Hronová, 2012. "Odraz ekonomického vývoje vybraných zemí ve struktuře výdajů na konečnou spotřebu [Reflection of Economic Development of Selected Countries in the Structure of Final Consumption Expenditure]," Politická ekonomie, Prague University of Economics and Business, vol. 2012(4), pages 425-441.

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