Pašalièová, Renata; Stiller, Vladimír - In: Czech Journal of Economics and Finance (Finance a uver) 54 (2004) 11-12, pp. 520-540
/Permanent-Income Hypothesis, including a standard model of consumption and incorporating credit supply. We first concluded that credit conditions …The paper emphasizes how changes in credit conditions in the Czech Republic are likely to influence aggregate … consumption. Aggregate consumption plays an important role in macroeconomic fluctuations and in the transmission mechanism. Czech …