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Consumption and its Determinants - A Model of the Households’ Individual Final Consumption in Romania

Author

Listed:
  • Moraru Andreea-Daniela

    (Ovidius University of Constanta)

  • Moise-Titei Adina

    (Ovidius University of Constanta)

Abstract

The paper aims at presenting an econometric model for the household’s individual final consumption in Romania with the declared intention of assessing the effect of several macroeconomic factors on consumption growth. The study is based on annual data for the dependent and independent variables from 1990 to 2011. The tested model estimates the influence of households’ income, wealth, approximated by the monetary aggregate M1, monetary policy interest rate and inflation rate on households’ consumption. The results show that households’ consumption is significantly influenced by households’ income as previously assumed and by wealth, approximated by the monetary aggregate M1. Neither the inflation rate nor the monetary policy interest rate, seem to have a considerable influence on households consumption.

Suggested Citation

  • Moraru Andreea-Daniela & Moise-Titei Adina, 2012. "Consumption and its Determinants - A Model of the Households’ Individual Final Consumption in Romania," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 459-462, Decembre.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:2:p:459-462
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    More about this item

    Keywords

    households’ individual final consumption; model; influence; Romania;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General

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