Aggregate demand for culture in Mexico: propensity to consume and interest rates of cultural enterprises
| Autor: | Pablo Sigfrido Corte-Cruz |
|---|---|
| Jazyk: | Spanish; Castilian |
| Rok vydání: | 2019 |
| Předmět: | |
| Zdroj: | Revista CEA, Vol 5, Iss 10, Pp 151-165 (2019) |
| Druh dokumentu: | article |
| ISSN: | 24223182 2390-0725 2422-3182 |
| DOI: | 10.22430/24223182.1331 |
| Popis: | This work is a macroeconomic exercise based on information in the Mexican Culture Satellite Account published by the National Institute of Statistics and Geography. Its objective is to determine an aggregate demand model of the cultural sector in Mexico based on calculations of its marginal propensity to consume and interest rates. Traditional macroeconomic literature was considered to reduce the autonomous spending of the sector and, therefore, the curve of cultural assets. The presence of the curve of the money market was also taken into account to achieve such objective. Ordinary Least Squares (OLS) was used and, in presence of heteroscedasticity, Weighted Least Squares (WLS) was implemented. In conclusion, average Mexicans do not spend more than 5.3% of their income in cultural goods, and creative industries, because of their conditions, require interest rates well below those of the general financial market. |
| Databáze: | Directory of Open Access Journals |
| Externí odkaz: |
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