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Econometric Model For Analyzing The Influence Of Factors On Final Consumption

Author

Listed:
  • Madalina-Gabriela ANGHEL

    („Artifex” University of Bucharest)

  • Ana CARP

    („Artifex” University of Bucharest)

  • Marian SFETCU

    („Artifex” University of Bucharest)

  • Stefan Gabriel DUMBRAVA

Abstract

Statistic and econometric models can be used, to great effect, in macroeconomic forecasting studies. Thus, we can perform forecasts (prognoses) by using the regression model, either simple, multiple, linear or non-linear. In fact, we resort to a extrapolation of results for a future period, by taking into account the regression parameters. Having in mind the importance of consumption for standard of living, we will analyse the conection between final consumption as explained variable and the private consumption, public consumption and gross available income of population. The multiple linear regression analysis can be used in final consumption recorded at the level of the Romanian economy. To build a linear multiple regression model, we defined the private consumption, public consumption and gross available income as independent variables, while final consumption value was considered a dependent variable, that is the main variable of the model.

Suggested Citation

  • Madalina-Gabriela ANGHEL & Ana CARP & Marian SFETCU & Stefan Gabriel DUMBRAVA, 2017. "Econometric Model For Analyzing The Influence Of Factors On Final Consumption," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 65(10), pages 123-131, October.
    • Handle: RePEc:rsr:supplm:v:65:y:2017:i:10:p:123-131
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    References listed on IDEAS

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    More about this item

    Keywords

    final consumption; private consumption; public consumption; available gross income; econometric model;
    All these keywords.

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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