Aggregate demand for culture in Mexico: propensity to consume and interest rates of cultural enterprises
| Title: | Aggregate demand for culture in Mexico: propensity to consume and interest rates of cultural enterprises |
|---|---|
| Authors: | Pablo Sigfrido Corte-Cruz |
| Source: | Revista CEA, Vol 5, Iss 10, Pp 151-165 (2019) |
| Publisher Information: | Instituto Tecnológico Metropolitano, 2019. |
| Publication Year: | 2019 |
| Collection: | LCC:Commerce LCC:Finance |
| Subject Terms: | Culture and development, cultural economy, cultural planning, autonomization, Commerce, HF1-6182, Finance, HG1-9999 |
| More Details: | 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. |
| Document Type: | article |
| File Description: | electronic resource |
| Language: | Spanish; Castilian |
| ISSN: | 24223182 2390-0725 2422-3182 |
| Relation: | https://revistas.itm.edu.co/index.php/revista-cea/article/view/1331/1328; https://doaj.org/toc/2390-0725; https://doaj.org/toc/2422-3182 |
| DOI: | 10.22430/24223182.1331 |
| Access URL: | https://doaj.org/article/e27784a29e6849ec97c3d07924cbae4d |
| Accession Number: | edsdoj.27784a29e6849ec97c3d07924cbae4d |
| Database: | Directory of Open Access Journals |
| ISSN: | 24223182 23900725 |
|---|---|
| DOI: | 10.22430/24223182.1331 |
| Published in: | Revista CEA |
| Language: | Spanish; Castilian |