Estimates of Demand for Money and Consumption Functions for the Household Sector in Poland, 1967-1999
AbstractThe paper analyses household money demand and consumption. Variables that measure shortage and expectations about its future course are introduced to capture the effects of the transition from centrally planned to market economy. The Johansen procedure is used to identify a system of the two cointegrating vectors. The Chow tests support stability in the error correction equations. The reported results show that disequilibrium in household sector money holdings has a strong influence on consumption.
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Bibliographic InfoPaper provided by University of Oxford, Department of Economics in its series Economics Series Working Papers with number 42.
Date of creation: 01 Dec 2000
Date of revision:
money demand; consumption; shortage;
Find related papers by JEL classification:
- E21 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
- E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
- P36 - Economic Systems - - Socialist Institutions and Their Transitions - - - Consumer Economics; Health; Education and Training; Welfare, Income, Wealth, and Poverty
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- Barbara Liberda, 1999. "Household Saving in Poland," CASE Network Studies and Analyses 0187, CASE-Center for Social and Economic Research.
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- Antoni Chawluk & Rod Cross, 1997. "Measures Of Shortage And Monetary Overhang In The Polish Economy," The Review of Economics and Statistics, MIT Press, vol. 79(1), pages 105-115, February.
- Chawluk, Antoni & Cross, Rod, 1994. "Zloty and Dollar Balances in Poland 1965-1993," The Manchester School of Economic & Social Studies, University of Manchester, vol. 62(0), pages 41-66, Suppl..
- Acharya Arnab & Spagat Michael, 1995. "A General Model of the Soviet Consumer," Journal of Comparative Economics, Elsevier, vol. 20(3), pages 302-315, June.
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