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1

ODHAD SPOTREBNEJ FUNKCIE PRE SLOVENSKO A PROGNÓZA SPOTREBY

100%
Senaj M.
Ekonomický časopis (Journal of Economics)
|
2008
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vol. 56
|
issue 1
3-21
EN
This paper studies the impacts of disposable income and financial wealth on aggregate household consumption. The considered time period ranges from 1996 to 2005. The results confirm that not only disposable income but also wealth has significant impact on consumption. Moreover, we show that the most appropriate proxy for wealth is the sum of monetary aggregate M2 and assets invested in the mutual funds. We also investigate the effects of the interest rates and further relevant variables. It turns out that these variables are not significant in the consumption function. The second main objective of this work is to evaluate the different consumption forecasting approaches. We show that the most accurate in sample and out of sample forecasts originate from a vector error correction model with the exogenous variables.
2

DETERMINANTS OF CONSUMPTION OF 50+ POPULATION IN CROATIA

88%
Čeh Časni A., Paliċ I., Paliċ P.
Ekonomický časopis (Journal of Economics)
|
2020
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vol. 68
|
issue 7
737 – 755
EN
The aim of this paper is to explore the basic features of consumption of 50+ population in Croatia by using the data from Survey of Health, Ageing, and Retirement in Europe – SHARE (SHARE, 2017). Thereby we use an extended model of consumption that includes basic consumption determinants that are stipulated by the economic theory and empirical research, namely income and wealth which are retrieved from SHARE database and augment it with other economic and socio-demographic features of „50+“ population that may exhibit an influence on consumption decisions. In order to model household consumption, we use ordinary least squares (OLS) method when estimating the baseline regression equation. Additionally, control variables labour status, gender and marital status are used in order to explore whether the household consumption is more responsive to changes in household income and wealth for specific groups of respondents. The results of the analysis indicate that retired individuals have higher marginal propensity to consume compared to the employed individuals, which is in line with the life-cycle theory.
3

TRENDS IN HOUSEHOLD CONSUMPTION INEQUALITIES IN SLOVAKIA: EMPIRICAL EVIDENCE

75%
König B., Dováľová G.
Ekonomický časopis (Journal of Economics)
|
2016
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vol. 64
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issue 3
238 – 259
EN
The article deals with consumption inequalities in Slovakia. Analysing household consumption behaviour is very important due to the existence of linkages between consumption and development on the labour market and it is also particularly important in regard to population ageing, as Slovakia belongs to the group of EU Member States moving from the youngest population at present to the oldest ones in the future. Through identifying expenditure elasticities by employing the Quadratic Almost Ideal Demand System (QUAIDS) in the analysis of nine groups of consumer goods and services we were able to define what low and high income households consider luxury goods and necessity goods. The results suggest that the development of income inequalities in Slovakia is not fully traced by consumption inequalities and that the financial and economic crisis has played an important role in determining consumption inequalities between low and high income households.
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