A QUARTERLY ECONOMETRIC MODEL OF THE SLOVENIAN ECONOMY1

The article presents the construction of a quarterly econometric model of the Slovenian economy along with an analysis of the fundamental relationships in the Slovenian economy. For this purpose we formed a system of identities, consistent with the national accounts, and of stochastic equations, con...

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Bibliographic Details
Published in:Economic and business review for Central and South-Eastern Europe 2006-10, Vol.8 (3), p.215
Main Author: Verbic, Miroslav
Format: Article
Language:English
Subjects:
Econometrics
Economic development
Economic models
Economic policy
Energy prices
Interest rates
International trade
Statistical analysis
Studies
Time series
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Summary:The article presents the construction of a quarterly econometric model of the Slovenian economy along with an analysis of the fundamental relationships in the Slovenian economy. For this purpose we formed a system of identities, consistent with the national accounts, and of stochastic equations, consistent with economic theory as well as the institutional and constitutional characteristics of the Slovenian economy. The present econometric model of the Slovenian economy SIQM 2.1 consists of 97 equations and covers the 1997:1 - 2003:4 period. The adequacy of the model, i.e. its ability to reproduce actual economic developments in the period under investigation, was verified by performing dynamic simulations. It was established that the results are econometrically satisfactory and in part even quite favourable. [PUBLICATION ABSTRACT]
ISSN:1580-0466
2335-4216