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Estimate a consumption function for the UK economy explaining the statistical techniques you have used.
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Project: Estimate a consumption function for the UK economy explaining the statistical techniques you have used. Abstract The purpose of doing this project is to estimate different consumption functions and to observe the relationships between consumption and a set of variables, such as household disposable income, house price inflation and inflation. I have extended my data to include the periods 1999 to 2001. I will construct and apply a model to such data and apply an appropriate set of tests to it. This project will be achieved using PC GIVE, which is a computerised statistical package. This will enable me to produce graphical analysis and present results in an appropriate manner. Introduction To address economic problem in context we separate an economy's aggregate expenditure (Y) into four categories: consumption (C), investment (I), government expenditure (G), and net foreign expenditure, or exports less imports (X-M). The aggregate demand identity Y=C +...
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