Naslov
The Analysis of Household Savings in Republic of Croatia Using Cointegration Approach.

Autori
Dumičić, Ksenija ; Čibarić, Irena

Izvornik
The business review, Cambridge (1553-5827) 15 (2010), 1; 220-226

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
cointegration; error correction model; determinants of private savings

Sažetak
The analysis of household savings determinants in the Republic of Croatia is conducted in this paper using vector autoregression methodology, namely cointegration approach and error correction model. The characteristics of private savings in the Republic of Croatia are described. Then, the determinants of private savings for the empirical analysis are selected. The expected effects of individual determinants of savings regarding economic theory and empirical research are stated. Cointegrating relation, i.e. long run relationship is found among selected variables. The analysis of variance decomposition and impulse response function of error correction model is done. The article concludes by the comparison of theoretical and empirical findings in relevant literature to findings obtained for Croatia. The effects of most variables are in accordance with economic theory and/or relevant empirical research. However, compliance of some variables with the economic theory is proved to be questionable.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA