Macroeconomic conditions of equilibrium consumer demand
Journal Title: Формування ринкових відносин в Україні. Збірник наукових праць - Year 2019, Vol 1, Issue 1
Abstract
The subject of research is the theoretical and methodological foundations of the regulation of aggregate demand at the macroeconomic level, aimed at the effective development of the economy of Ukraine. The purpose of the study is analysis of the consumer demand impact on the equilibrium conditions between production (accumulation) and consumption, including consideration of ways to optimize the inter–branch structure of consumer demand for programming economic development. Methods of research are based on general scientific principles and fundamental principles of economic theory, marketing and statistics, and include methods of comparative economic analysis, economic and mathematical modeling, forecasting and others. Result of the work are proposals to achieve optimal proportionality between the growth of income of the population, consumer demand, the development of industries to minimize macro–financial imbalances and achieve the highest possible increase in GDP under these conditions. Application of results. Economics and national economy management, in the part of state systems and mechanisms of economic management at the international, sectoral, inter–sectoral and regional levels, methods and economic levers of regulation of economic processes and their effectiveness. Conclusions. Consumer demand is the potential ability of households to purchase certain volumes of goods and services for their needs. This volume and its commodity (inter–sectoral) structure depends on a complex of factors acting at the national, sectoral, regional and corporate level. For the macroeconomic stability of the economy, consumer demand must constantly be balanced by the production of consumer goods and services. The production deficit is balanced by inflation, the growth of imports, the devaluation of the national currency, which, in turn, provokes financial instability and worsening conditions for capital investment and the development of the real sector. The source of consumer demand is the income of the population. With a balanced state policy, real wages should outpace the growth rate of GDP by 5–6 percentage points, consumer demand – by 3–4 percentage points. Government policy may partially influence the structure of consumer demand. By optimizing the intersectoral structure of the final product, an increase in consumer demand can be achieved by an additional 0.5–1 percent, and, accordingly, GDP — by 0.7–1.3 percentage points. For a more detailed study of consumer demand, it is advisable to single out also real, effective and optimal consumer demand. Effective consumer demand will be called such a volume, which cannot be increased at the expense of other measures of state policy, given the volume of income of the population.
Authors and Affiliations
V. B. GROMOV
Keywords
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- EP ID EP479500
- DOI 10.5281/zenodo.2581144
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