Naslov
Parameters Estimation According to Engel's Law in Excel

Autori
Pivac, Snježana ; Eškinja, Ivo ; Zorić, Mia

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Proceedings of the 32nd International Convention MIPRO 2009, Conference: Computers in Education / - Opatija : Hrvatska udruga za informacijsku i komunikacijsku tehnologiju, elektroniku i mikroelektroniku - MIPRO, 2009, 71-76

ISBN
978-953-233-042-7

Skup
32nd International Convention MIPRO 2009, Conference: Computers in Education

Mjesto i datum
Opatija, Hrvatska, 25.05.2009. - 29.05.2009

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
parameters estimation; Monte Carlo simulation; Excel

Sažetak
Engel's laws have been frequently used in economic analysis. In this paper the concrete relations in Croatian economy are studied according to basic postulates of Engle curve. The parameters of relevant model are estimated by respecting wages movement and luxury consumption. Beside standard method, parameters estimation has also been done by Monte Carlo simulation, which enables the basic assumptions to be fulfilled. By using such multi-objective approach, the obtained results have been presented, interpreted and comparatively analyzed. All calculations are accomplished very simply in Excel. This user-friendly approach will help many users to easily solve similar complex statistical and mathematical calculations, which is useful and important for students of economic sciences in quantitative analysis.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA