Model konsumpcji permanentnej M. Friedmana a keynesowskie funkcje konsumpcji – empiryczna weryfikacja wybranych teorii na przykładzie Czech
M. Friedman’s permanent consumption modeland keynesian consumption functions – empirical verification of selected theorieson the example of Czech

Summary/Abstract: The aim of this article is to compare the Keynesian consumption functions with M. Friedman’s permanent consumption model on the example of household disposable income and consumption expenditures in Czech in the years 1997-2011. Using the method of the least squares the Keynesian consumption functions with the intercept and without the intercept were estimated and then three consumption functions based on M. Friedman permanent income theory were calculated. This allowed for the objective empirical verification of the relevance of both analyzed theories on the example of Czech.

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