Spotrebná funkcia ako nástroj na rýchly odhad konečnej spotreby domácností
Consumption Function as an Instrument for Flash Estimates of Final Consumption of Households

Summary/Abstract: The flash estimates of main macroeconomic indicators represent an integral part of officially available statistical information in countries of EU-27. They are compiled by means of model tools in countries of the former EU-15 and the same standard should be achieved also in other countries of the current EU-27. In Slovakia, the econometric modelling started in this field in 2004. The main objective of this activity is to create a specific model framework supporting the preparation of flash estimates for GDP and some other basic macroeconomic indicators of the Slovak economy. In the article the methodological approach and two econometric-type models based on quarterly data in the form of Error Correction Model (ECM) are presented and interpreted. As far as explanatory variables are concerned, it is important that they all are available before the flash estimates in reference quarter are compiled.

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