Εμπειρική διερεύνηση της συνάρτησης κατανάλωσης των Μεσογειακών χωρών της Ευρωπαϊκής Ένωσης
Empirical investigation of the consumption function of the Mediterranean countries of the European Union
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Ακαθάριστο Εγχώριο Προϊόν ; Κατανάλωση ; Απλό γραμμικό υπόδειγμαAbstract
This thesis explores the marginal propensity to consume of the alliance of seven
Mediterranean and Southern European Union Member States (MED7). Its object is to
examine the behavior of consumption when income changes during the years 2000 –
2020, as well as to investigate short-term and long-term behaviors through time lags.
The presents a research is carried out using econometric techniques and theories, in the
Microsoft Excel spreadsheet software and in the EViews12 software. In the empirical
part of the work, annual observations of Gross Domestic Product and Consumption are
used for the countries: France, Greece, Spain, Italy, Cyprus, Malta, and Portugal. The
data used cover a period from 2000 to 2020 and were collected from the database World
Development Indicators (WDI), of World Data Bank.
The empirical results of the study for all the countries examined showed that there
is little difference in behavior in the marginal propensity to consume in the
Mediterranean countries of Europe, with the exception of Malta where it has a very low
marginal propensity to consume. To be understood, in the case of Malta the MPC it is
0.50, while for the other countries examined it is between 0.80 and 0.90. The marginal
propensity to consume measures the sensitivity of the endogenous variable
(consumption) when the exogenous variable (GDP) changes. In addition, as far as
short-term and long-term behavior is concerned, it turned out that the data adapted quite
well to the corresponding model constructed, verifying the general view of the direct
dependence of consumption on disposable income.