Consumption, Income and Household Wealth

The real increase of the households’ consumption contributes largely to the economic growth. The consumption function is an important element of each macroeconomic model. The current research aims at explaining the factors, which impact on households’ consumption in long-term and short-term period. The relationship between consumption and income and consumption and income and households’ personal wealth has been studied by means of cointegration analysis. Additionally, the influence of credits and relative prices on consumption has been evaluated. The detailed results from the econometric tests and the used vector error correction models have been published in the appendices.