Równania popytu finalnego

Abstract

The final demand is generated from known accounting identity. The specification of households demand is discussed in some detail. Life cycle hypothesis could not be applied because of instability of households in Poland. Demand is income constrained, depending also on initial wealth. The demand for investment goods by firms is shaped allowing for an accelerator and the rate of capacity utilization. The user costs constrain the demand; there is also a substitution effect. The final domestic demand plus net exports add up to effective GDP. Exports and imports equations arc built in a traditional manner allowing for the level of respective activities and relative prices.