The Transformation from Supply-constrained Economy to Demand-constrained Economy: Analysis of the Total Supply and the Demand Situation in the Czech Republic from 1995 to 2020

Zeyan Chen

《Frontiers in Economics and Management》 2卷7期 (2021/07) Pp. 228-233

https://doi.org/10.6981/FEM.202107_2(7).0033

摘要

The total supply and the demand situation is the superior premise to study economic problems. The feasibility of theoretical framework is directly determined by the accuracy of the judgment of whether a country's total supply and demand situation is a supply-constrained economy or a demand-constrained economy. In this paper, the unit root test and co-integration test are carried out by collecting data of relevant indicators from the International Monetary Fund. Using the price elasticity of supply relevant theoretical framework to build classical least-squares regression model for the Czech republic in 1995-2020, the total supply and demand situation of preliminary judgment, the analysis of the Czech republic in the ＂the Belt and Road Initiatives＂ policy, under the influence of the change of the total supply and demand situation, and supplemented by the relationship between total supply and demand and price of relevant theoretical framework for robustness analysis, the empirical results show that: The overall supply and demand situation of the Czech Republic has changed from a supply-constrained economy in 1995 to a demand-constrained economy in 2012-2020.

關鍵字

Czech Total Supply and Demand Situation ； Demand Constrained Economy ； Supply-Constrained Economy ； Price Elasticity of Aggregate Supply ； Total Supply ； Demand and Price

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