Model konsumpcji permanentnej M. Friedmana a keynesowskie funkcje konsumpcji – empiryczna weryfikacja wybranych teorii na przykładzie Polski
M. Friedman permanent consumption model and keynesian consumption functions. Empirical verification of the selected theories on the example of Poland

Summary/Abstract: The aim of this article is to compare the Keynesian consumption functions with M. Friedman permanent consumption model on the example of household disposable income and consumption expenditures in Poland 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 the three consumption functions based on M. Friedman permanent income theory were calculated. This allowed for the objective empirical verification of the relevance of the both analyzed theories on the example of Poland.

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