Podivné chování spotřeby v průběhu transformace
[Strange behaviour of consumption during the transformation]
Both economic theory on consumption function and historical empirical evidence from advanced market economies prove that private consumption is less volatile during the cycle than GDP or fixed capital investment. The national accounts data for the Czech Republic in 1990-1998 show the opposite: the household consumption was more volatile than the GDP. This peculiarity of the Czech households behaviour has several reasons: significant increase in savings rate as a reaction to higher insecurity, rise of unemployment etc. the catch-up with living standards in neighbouring countries-members of EU. As a first step in this catch-up, households are accumulating wealth in form of savings; pilling-up some items of wealth; changing consumer behaviour as a reaction to price liberalization and relatively speedy changing price relations. It is highly probable that the volatility of private consumption will be higher than the volatility of GDP also in the next future.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 1999 (1999)
Issue (Month): 5 ()
|Contact details of provider:|| Postal: nam. W. Churchilla 4, 130 67 Praha 3|
Phone: (02) 24 09 51 11
Fax: (02) 24 22 06 57
Web page: http://www.vse.cz/
More information through EDIRC
|Order Information:|| Postal: Redakce Politické ekonomie, Vysoká škola ekonomická, nám. W. Churchilla 4, 130 67 Praha 3|
Web: http://www.vse.cz/polek/ Email:
When requesting a correction, please mention this item's handle: RePEc:prg:jnlpol:v:1999:y:1999:i:5:id:67. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Frantisek Sokolovsky)
If references are entirely missing, you can add them using this form.