ECONOMETRIC MODELING OF GDP BY EMPLOYMENT AND THE VALUE OF TANGIBLE FIXED ASSESTS

Abstract

The economic potential of a country is consistently a primary goal of existence and sustainable development, to ensure the livelihood of all residents, increase living standards. To achieve this major goal rigorous study must be complex to formulate a diagnosis and real economic status and rationale, on the basis of economic and legislative policy decisions, decisions addressing both immediate time horizons as well as longer periods of time. In this context, we analyzed dynamics of GDP according to the dynamics of employment and dynamics of tangible fixed assets of the economy by applying a rigorous econometric modeling methodology.

Keywords

• economic growth
• employed population
• GDP
• tangible fixed assets