Macroeconomic models used in structural analysis of GDP

Abstract

In this paper, the authors present some models useful for the analysis of the Gross Domestic Product. The study capitalizes official data published by the National Institute of Statistics from Romania. As the principal indicator of the macroeconomic results in the national economies, the Gross Domestic Product is influenced by a variety of factors, whose impact can be estimated with the help of appropriate models. After presenting some aspects on the evolution of Romania’s Gross Domestic Product, the authors propose a set of econometric models, based on the simple and multiple regression approach, which are able to measure the impact of final consumption, on one hand, and the turnover of the companies acting in the retail sector, on the other hand, on the main indicator considered in the research. The models are tested against Rsquared and Adjusted R-squared parameters, and the results of estimations are further explained.

Keywords

• gross domestic product
• final consumption
• turnover
• regression
• parameter
• public
• private