Abstract

LOPEZ ELIAS, Leandro. Estimation of a consumption function for the cuban economy during the period 1975-2012. rev. econ. Caribe [online]. 2015, n.16, pp.73-98. ISSN 2011-2106.  https://doi.org/10.14482/ecoca.15.7192.

The purpose of this paper is to estimate a household consumption function for the Cuban economy during the period 1975-2012. For this purpose, a time series is analyzed. The main results indicate that the Keynesian theory is the more suitable to explain the consumption behavior in the Cuban economy. The Gross Domestic Product and the Other Income variable explain the agents’ decision regarding consumption. In accordance with the assumptions about the exogenous variables of the model, the household consumption is expected to show an average growing rate of 5.4% between 2013 and 2020.

Keywords : Consumption; Time Series; Household.

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