Pašalièová, Renata; Stiller, Vladimír - In: Czech Journal of Economics and Finance (Finance a uver) 54 (2004) 11-12, pp. 520-540
household debt has increased in the past five years. The empirical analysis presented in the paper is based on the Life Cycle … have a significant impact on household consumption, and that consumption is acutely sensitive to disposable income. Our … models further confirmed the acute effect real interest rates have on household consumption. We ultimately concluded that …
