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Czech Household Consumption Analysis

By Jan Špitálský


This paper presents results of an empirical evaluation of the "Bivariate Integral Control Mechanism" (BICM) model (derived in [Spitalsky,1998]) of household consumption in the Czech Republic. Based on the evaluation results, a comparison of both short- and long-run consumption behavior of three economically active parts of the Czech society; namely, households of employees, farmers and entrepreneurs, has been accomplished.

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