ECONOMETRIC ANALYSIS OF THE KEYNESIAN MODEL USING DATA FROM THE REPUBLIC OF IRELAND

UDC 519.862
DOI: 10.36871/2618-9976.2020.12.006

Authors

Derevyanko Bogdan Andreevich
Master's Degree, Faculty of International Economic Relations, Financial University under the Government of the Russian Federation, Moscow, Russia

Abstract

The article is a summary of the research project of the applicability of the Keynesian macroeconomic model for closed economies on the actual historical data for the Republic of Ireland for forecasting purposes. Different econometric techniques and tests are used to estimate the quality of the econometric specification based on the Keynesian model, to assess adequacy of the model and relevance of the forecasting results. In the article essential quantitative indicators and subsequent conclusions are presented in order to come up with fair and unbiased estimation of the applicability of the Keynesian macroeconomic model.

Keywords

Econometrics
Keynesian model
Republic of Ireland
Econometric model
Econometric specification
GaussMarkov
theorem