Empirical evidence of the theory of consumption for colombia 2000-2010
The paper evaluates the hypothesis of consumption of Keynes, Friedman, Modigliani and Hall, showing its theoretical elements along with the econometric verification of each one for Colombia, with quarterly data from the period 2000 to 2010. The differences that can be obtained in their analysis are...
| Main Authors: | , |
|---|---|
| Format: | Online |
| Language: | spa |
| Published: |
Universidad Pedagógica y Tecnológica de Colombia
2011
|
| Subjects: | |
| Online Access: | https://revistas.uptc.edu.co/index.php/cenes/article/view/25 |
| _version_ | 1801705913595199488 |
|---|---|
| author | Herrera, Julián Augusto Casas León, José Mauricio Gil |
| author_facet | Herrera, Julián Augusto Casas León, José Mauricio Gil |
| author_sort | Herrera, Julián Augusto Casas |
| collection | OJS |
| description | The paper evaluates the hypothesis of consumption of Keynes, Friedman, Modigliani and Hall, showing its theoretical elements along with the econometric verification of each one for Colombia, with quarterly data from the period 2000 to 2010. The differences that can be obtained in their analysis are shown with their consequent impacts on economic policy. The article concludes that the Keynesian hypothesis is useful for an analysis of economic policy in the short term, while Friedman’s hypothesis, with adaptive expectations, was more consistent in the long run than that of Modigliani and Hall. |
| format | Online |
| id | oai:oai.revistas.uptc.edu.co:article-25 |
| institution | Revista Apuntes del Cenes |
| language | spa |
| publishDate | 2011 |
| publisher | Universidad Pedagógica y Tecnológica de Colombia |
| record_format | ojs |
| spelling | oai:oai.revistas.uptc.edu.co:article-252022-06-17T21:32:23Z Empirical evidence of the theory of consumption for colombia 2000-2010 Evidencia empírica de la teoría del consumo para Colombia 2000-2010 Herrera, Julián Augusto Casas León, José Mauricio Gil Consumption theories Keynesian function life cycle permanent income Teorías del consumo función keynesiana ciclo vital ingreso permanente The paper evaluates the hypothesis of consumption of Keynes, Friedman, Modigliani and Hall, showing its theoretical elements along with the econometric verification of each one for Colombia, with quarterly data from the period 2000 to 2010. The differences that can be obtained in their analysis are shown with their consequent impacts on economic policy. The article concludes that the Keynesian hypothesis is useful for an analysis of economic policy in the short term, while Friedman’s hypothesis, with adaptive expectations, was more consistent in the long run than that of Modigliani and Hall. En este trabajo se evalúan las hipótesis de consumo de Keynes, Friedman, Modigliani y Hall,mostrando sus elementos teóricos, junto con la verificación econométrica de cada una para Colombia, con datos trimestrales, en el periodo 2000-2010. Se muestran las diferencias que se pueden obtener en el análisis de estas, con sus respectivos impactos en la política económica. En el texto se concluye que la hipótesis keynesiana es útil para un estudio de política económica a corto plazo, mientras que la de Friedman, con expectativas adaptativas, resultó, más consistente a largo plazo que la de Modigliani y la de Hall. Universidad Pedagógica y Tecnológica de Colombia 2011-12-05 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion Peer reviewed Article application/pdf https://revistas.uptc.edu.co/index.php/cenes/article/view/25 10.19053/01203053.v30.n52.2011.25 Apuntes del Cenes; Volumen 30 N° 52: julio - diciembre de 2011; 59-86 Apuntes del Cenes; Volumen 30 N° 52: julio - diciembre de 2011; 59-86 2256-5779 0120-3053 spa https://revistas.uptc.edu.co/index.php/cenes/article/view/25/26 Copyright (c) 2011 Julián Augusto Casas Herrera, José Mauricio Gil León http://creativecommons.org/licenses/by-nc-sa/4.0 |
| spellingShingle | Consumption theories Keynesian function life cycle permanent income Teorías del consumo función keynesiana ciclo vital ingreso permanente Herrera, Julián Augusto Casas León, José Mauricio Gil Empirical evidence of the theory of consumption for colombia 2000-2010 |
| title | Empirical evidence of the theory of consumption for colombia 2000-2010 |
| title_alt | Evidencia empírica de la teoría del consumo para Colombia 2000-2010 |
| title_full | Empirical evidence of the theory of consumption for colombia 2000-2010 |
| title_fullStr | Empirical evidence of the theory of consumption for colombia 2000-2010 |
| title_full_unstemmed | Empirical evidence of the theory of consumption for colombia 2000-2010 |
| title_short | Empirical evidence of the theory of consumption for colombia 2000-2010 |
| title_sort | empirical evidence of the theory of consumption for colombia 2000 2010 |
| topic | Consumption theories Keynesian function life cycle permanent income Teorías del consumo función keynesiana ciclo vital ingreso permanente |
| topic_facet | Consumption theories Keynesian function life cycle permanent income Teorías del consumo función keynesiana ciclo vital ingreso permanente |
| url | https://revistas.uptc.edu.co/index.php/cenes/article/view/25 |
| work_keys_str_mv | AT herrerajulianaugustocasas empiricalevidenceofthetheoryofconsumptionforcolombia20002010 AT leonjosemauriciogil empiricalevidenceofthetheoryofconsumptionforcolombia20002010 AT herrerajulianaugustocasas evidenciaempiricadelateoriadelconsumoparacolombia20002010 AT leonjosemauriciogil evidenciaempiricadelateoriadelconsumoparacolombia20002010 |
