Consumption and Gross Domestic Product Dynamic – Empirical Research and Results
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Academic Publishing UNWE (AP-UNWE)
Abstract
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This article is a scientific review of empirical research on the role of consumption in the economy. Consequently, studies on aggregate consumption and energy consumption are presented, with a place of publication for Bulgaria. The position of the authors, as well as the results of their analysis, are contradictory, do not lead to a conclusive conclusion and there is no overall causal link. The research results testify that none of the economic doctrines is capable of making universal recommendations, the blind follow-up of which will ensure economic policy success and the sustainability of the economic system.
Keywords
Aggregate consumption, Energy consumption, Economic growth, GDP, B51 - Socialist • Marxian • Sraffian, B52 - Historical • Institutional • Evolutionary • Modern Monetary Theory, E1 - General Aggregative Models, E21 - Consumption • Saving • Wealth, O4 - Economic Growth and Aggregate Productivity