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consumption. Aggregate consumption plays an important role in macroeconomic fluctuations and in the transmission mechanism. Czech …/Permanent-Income Hypothesis, including a standard model of consumption and incorporating credit supply. We first concluded that credit conditions … have a significant impact on household consumption, and that consumption is acutely sensitive to disposable income. Our …
Persistent link: https://www.econbiz.de/10008549889
increase in household consumption. …
Persistent link: https://www.econbiz.de/10008549927
Estimation of volatility of financial time series plays a crucial role in pricing derivatives. Volatility is often estimated from historical data; however, it is well known that volatility varies in time. We propose a method to choose a suitable length of historical data to estimate contemporary...
Persistent link: https://www.econbiz.de/10005036300
The study is focused on macroeconomic stability of the Czech economy. The first part (methodological) stems from the system of national accounting which offers two approaches: from the point of view of relationship between domestic supply and demand and between savings and investments....
Persistent link: https://www.econbiz.de/10005036641
The paper analyses the intertemporal approach to the balance of payments which is based on the intertemporal approach to the relation between domestic saving and investment. A key element of the presented analysis is whether world capital mobility is high enough to hold a condition that the...
Persistent link: https://www.econbiz.de/10005036654
Persistent link: https://www.econbiz.de/10011433733
Persistent link: https://www.econbiz.de/10011473025
Persistent link: https://www.econbiz.de/10001464979