期刊名称：Zagreb International Review of Economics and Business
印刷版ISSN：1331-5609
出版年度：2015
卷号：18
期号：1
页码：81-89
DOI：10.1515/zireb-2015-0005
语种：English
出版社：Ekonomski fakultet Sveučilišta u Zagrebu
摘要：In this paper, an econometric model of consumption in Bulgaria for the period 1997-2005 is constructed. The Error-Correction Model (ECM) approach is employed and long-run relationship between household consumption and income was found. The primary purpose of this empirical paper is to get a better understanding of the factors driving household consumption in Bulgaria and to estimate a consumption function to be used for medium-term forecasting. It is shown that all households behave in a Keynesian way, basing their consumption decisions on current income.
关键词：Keynesian consumption function; Permanent Income Hypothesis; Error Correction Model
