ECONOMETRIC MODEL FOR ANALYZING THE INFLUENCE OF FACTORS ON FINAL CONSUMPTION
Ana Carp (),
Marian Sfetcu and
Stefan Gabriel Dumbrava
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Madalina-Gabriela Anghel: „Artifex” University of Bucharest
Marian Sfetcu: „Artifex” University of Bucharest
Stefan Gabriel Dumbrava: .
Romanian Statistical Review Supplement, 2017, vol. 65, issue 10, 123-131
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.
Keywords: final consumption; private consumption; public consumption; available gross income; econometric model (search for similar items in EconPapers)
JEL-codes: C53 E21 (search for similar items in EconPapers)
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