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An empirical analysis of simulated model of economic growth for United Kingdom

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  • Adamopoulos Antonios

Abstract

This study investigates a simulation model of economic growth for United Kingdom for the period 1970-2017. The purpose of this study is to examine the main determinants of economic growth examining a structural system equation model. Two stage least squares method is used in order to examine the direct and indirect relationships between the dependent variables of the model. Finally, a Monte Carlo simulation method is applied in order to define the sensitivity analysis and predictive ability of the estimated system equation model. JEL Classification Numbers: O11, C22Keywords: economic growth, system equation model, Monte Carlo simulation

Suggested Citation

  • Adamopoulos Antonios, 2019. "An empirical analysis of simulated model of economic growth for United Kingdom," Journal of Statistical and Econometric Methods, SCIENPRESS Ltd, vol. 8(3), pages 1-1.
    • Handle: RePEc:spt:stecon:v:8:y:2019:i:3:f:8_3_1
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    References listed on IDEAS

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    More about this item

    Keywords

    economic growth; system equation model; monte carlo simulation;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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