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Multiple Linear Regression Equation for Economic Dimension of Standard of Living

Author

Listed:
  • Nicoleta Mihaela Florea

    (University of Craiova Faculty of Economics and Business Administration)

  • Georgeta Madalina Meghisan

    (University of Craiova Faculty of Economics and Business Administration, Craiova Scientific Researcher III, Romanian Academy)

  • Cristina Nistor

    (University of Craiova Faculty of Economics and Business Administration)

Abstract

The purpose of this analysis is to determine the signification of the following factors: population, population density and inflation rate to the measurement of the standard of living. The analysis takes into consideration demographic and economic data for a number of 10 EU member states. After calculating the standard of living in these countries, we analysed the impact of the mentioned factors using a multiple linear regression equation. We concluded that a part of the variation of the standard of living depends on the evolution of the three variables taken into consideration in the analysis.The standard of living of a population assesses the economic dimension of a country and the quality of life for a population.

Suggested Citation

  • Nicoleta Mihaela Florea & Georgeta Madalina Meghisan & Cristina Nistor, 2016. "Multiple Linear Regression Equation for Economic Dimension of Standard of Living," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(18), pages 103-108, November.
    • Handle: RePEc:aio:fpvfcf:v:1:y:2016:i:18:p:103-108
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    File URL: http://feaa.ucv.ro/FPV/018-011.pdf
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    References listed on IDEAS

    as
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    4. Ravallion, Martin, 1994. "Poverty rankings using noisy data on living standards," Economics Letters, Elsevier, vol. 45(4), pages 481-485, August.
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    6. Evans, Paul & Karras, Georgios, 1993. "Do standards of living converge? : Some cross-country evidence," Economics Letters, Elsevier, vol. 43(2), pages 149-155.
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    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Nicoleta Mihaela Florea & Roxana Maria Bădîrcea & Georgeta-Madalina Meghisan-Toma & Silvia Puiu & Alina Georgiana Manta & Dorel Berceanu, 2021. "Linking Public Finances’ Performance to Renewable-Energy Consumption in Emerging Economies of the European Union," Sustainability, MDPI, vol. 13(11), pages 1-14, June.
    2. Duarte Santos, António & Ribeiro, Sandra & Castela, Guilherme & Tavares Da Silva, Nelson, 2017. "The Dynamics between Economic Growth and Living Standards in EU Countries: A STATICO Approach for the Period 2006-2014/La dinámica entre el crecimiento económico y la calidad de vida en los países de ," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 35, pages 629-652, Agosto.
    3. Ramona Pîrvu & Cristian Drăgan & Gheorghe Axinte & Sorin Dinulescu & Mihaela Lupăncescu & Andra Găină, 2019. "The Impact of the Implementation of Cohesion Policy on the Sustainable Development of EU Countries," Sustainability, MDPI, vol. 11(15), pages 1-20, August.
    4. Nicoleta Mihaela Florea & Georgeta-Madalina Meghisan-Toma & Silvia Puiu & Flaviu Meghisan & Marius Dalian Doran & Mariana Niculescu, 2021. "Fiscal and Budgetary Policy Efforts towards Climate Change Mitigation in Romania," Sustainability, MDPI, vol. 13(5), pages 1-18, March.
    5. Georgeta-Madalina Meghisan-Toma & Silvia Puiu & Nicoleta Florea & Flaviu Meghisan & Roxana Badircea & Alina Manta, 2022. "Sustainable Transformation of Romanian Companies through Industry 4.0, Green Production and Environment Commitment," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 24(59), pages 1-46.

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    More about this item

    Keywords

    living standard; European Union; inflation; population density; population; multiple linear regression equation;
    All these keywords.

    JEL classification:

    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles

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