Table 5: Global influences of unitary changes in the exogenous current receipts of households
1995 |
1996 |
1997 |
1998 |
1999 |
2000 | |
Aggregate income of households |
1.662 |
1.638 |
1.584 |
1.569 |
1.557 |
1.545 |
Aggregate investment /investment |
0.168 |
0.140 |
0.115 |
0.112 |
0.093 |
0.118 |
Compensation of labour |
0.508 |
0.501 |
0.473 |
0.467 |
0.465 |
0.464 |
Compensation of capital |
0.424 |
0.413 |
0.388 |
0.383 |
0.371 |
0.348 |
Production value/total costs |
2.034 |
1,999 |
1,907 |
1,863 |
1,816 |
1.816 |
Aggregate demand/supply |
2.543 |
2.500 |
2.400 |
2.367 |
2.322 |
2.330 |
Source: Portuguese accounting multiplier matrices (Ma) from 1995 to 2000.
Apart from the effect on the aggregate income of households, where 1 is the initial
injection of income, the greatest effects of unitary changes in the current receipts of
households were felt on production values and aggregate demand, reflecting the great
importance of final consumption for the total current outlays of households, as noted earlier.
On the other hand, the predominance of additional extragroup influences, shown by Table
6, means that most of the repercussions originating from the current account of households (1)
do not return to it, with the additional intergroup influences, shown by Table 7, representing
those repercussions that do in fact return. Additional intragroup effects were felt only at the
level of the aggregate income of households, with a constant value of 0.005. In turn, the
positive values of all these influences represent changes that have the same mathematical sign
as the initial change - for instance, increases in the exogenous current receipts of households
will result in increases in the items presented in the rows of Tables 5, 6 or 7.
Table 6: Additional extragroup influences of unitary changes in the exogenous current
receipts of households
1995 |
1996 |
1997 |
1998 |
1999 |
2000 | |
Aggregate income of households |
0.552 |
0.537 |
0.495 |
0.483 |
0.476 |
0.462 |
Aggregate investment /investment |
0.143 |
0.119 |
0.098 |
0.096 |
0.079 |
0.102 |
Compensation of labour |
0.410 |
0.404 |
0.380 |
0.376 |
0.374 |
0.373 |
Compensation of capital |
0.342 |
0.333 |
0.311 |
0.308 |
0.299 |
0.280 |
Production value/total costs |
1.824 |
1.798 |
1.725 |
1.688 |
1.652 |
1.647 |
Aggregate demand/supply |
2.129 |
2.090 |
2.007 |
1.982 |
1.943 |
1.957 |
Source: Additional extragroup effects matrices ((M3-I)*M2*M1) from 1995 to 2000.
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