Descriptive statistics from the data, Macroeconomics

Assignment Help:

Table below shows the descriptive statistics which have been condensed from the data sheet for the period 1987 Q4 to 2011 Q3.

 

GDP (%)

Real Exchange Rate (Base: Jan 2005=100)

Oil price ($/barrel)

Inflation (%)

Unemployment rate (%)

Interest rate (%)

Mean

0.49

93.787

37.409

3.571

6.914

6.115

St. Dev.

0.64

8.064

28.809

2.138

1.705

3.604

Min

-2.2

77.746

11.187

-1.367

4.6

0.5

Max

1.7

104.644

121.397

10.43

10.4

14.79

Table- A table showing the descriptive statistics from the data.

Numerous interesting facts can be observed in the table above. Firstly, the range of oil price over a 24 year period is staggering, highlighting the volatile nature of the commodity. The mean of the oil price is $37.41 per barrel. This is a stark contrast to recent prices of around $120 per barrel (Bloomberg, 2012). The standard deviation for oil is surprising also. It shows that the majority of the oil prices throughout the sample period have been within $29of the mean figure of $37.41 per barrel. This once again emphasises just how high the current price of oil is. Another figure which offers a stark contrast to the current UK economic performance is the interest rate mean. At 6.115 the rate is 5.615 higher than the current level 0.5% (Bank of England, 2012). This illustrates how low the demand for money in the UK is at present. The mean GDP figure shows that across the 24 year period, the UK achieved a mean growth rate of 1.98% annually. This figure will make pleasant reading to the policymakers throughout this period as the target rate of growth for the UK is 2%.


Related Discussions:- Descriptive statistics from the data

Automatic stabilizer, what is automatic stabilizer, example with diagram or...

what is automatic stabilizer, example with diagram or graph please

Determine the profit-maximizing average, It's been three weeks since you st...

It's been three weeks since you started working for BioMed and there's still no trace of Selwyn. That means you're still BioMed's resident economic expert. Harry the CEO was ple

KEYNESIAN CROSS MODEL, In the keynesian cross model, assume the consuption ...

In the keynesian cross model, assume the consuption function is given by C=200=.75(Y-T) and planned investment=100, government purchases and taxes are each of them 100. a) Draw a g

Economic growth and economic development, #question.distinguish between eco...

#question.distinguish between economic growth and economic development.

Impulse response functions, The final and most important part of the method...

The final and most important part of the methodology is the impulse response functions which will provide the most information with regards to the aim of the project. In order to a

Testing the hypothesis, An effort to reduce energy costs, a major universit...

An effort to reduce energy costs, a major university has installed more efficient lights as well as automatic sensors that turn the lights off when no movement is present in a room

Show the advantage and disadvantage of money, Q. Show the advantage and dis...

Q. Show the advantage and disadvantage of money? Money has one significant advantage and one disadvantage compared to bonds:  · Advantage: Money is more liquid than bond

Money demand function, Assume that the money demand function is (M/P) d = 2...

Assume that the money demand function is (M/P) d = 2,200 - 200r, where r is the interest rate in percent. The money supply M is 2,000 and the price level P is2. If the price level

True or False, 1) Consumption is positively related to stock market wealth ...

1) Consumption is positively related to stock market wealth but negatively related to taxes and tax rates.

Define ndp, The following is the information from the national income accou...

The following is the information from the national income accounts for a hypothetical country: GDP

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd