Open AccessModelling of Production Relations in the Lithuanian Economy
Author(s) -
Daina Filatovaitė,
Nomeda Bratčikovienė
Publication year - 2015
Publication title -
lithuanian journal of statistics
Language(s) - English
Resource type - Journals
ISSN - 2029-7262
DOI - 10.15388/ljs.2015.13880
Subject(s) - lithuanian , production (economics) , investment (military) , economics , economy , balance of trade , table (database) , balance (ability) , index (typography) , emigration , industrial production index , econometrics , macroeconomics , geography , computer science , political science , medicine , philosophy , linguistics , archaeology , politics , world wide web , data mining , law , physical medicine and rehabilitation
This paper presents a method for the analysis of price index changes in each branch of thecountry’s economy given changes in production factors. Cobb–Douglas production functions were evaluated foreach sector separately enabling the forecasting of production quantities. The country’s total production functionwas estimated using conditional regression. Later, an inter-branch balance problem of price and productionvolume relationship evaluation was solved using a Lithuanian input–output table. Finally, combining the estimatedproduction functions and estimated price–output relationship, Lithuanian economy-relevant scenarios ofre-emigration and retail chain Lidl investment were analysed.