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Estimates of Demand for Money and Consumption Functions for the Household Sector in Poland, 1967-1999

Abstract:
The 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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Authors


Antoni Chawluk More by this author
Volume:
42
Series:
Discussion paper series
Publication date:
2000
URN:
uuid:b0f610fe-3012-4c65-b851-82359b3c37c6
Local pid:
ora:1078
Language:
English

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