Economics, Econometrics and Finance
4 years ago

New macroeconomic model revolutionizes GDP analysis for Albanian economy.

Academic Journal of Interdisciplinary Studies
Effective Macroeconomic Model for GDP Analysis, Albanian Case
Alqi Naqellari, Vladimir Mici

Paper Summary

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The article presents a new macroeconomic model for analyzing GDP in Albania. The researchers created a model to study the impact of prices on GDP and calculated the Price Deflator and real GDP from 1990 onwards. They found that the deflator calculated by INSTAT closely matches the nominal GDP average of price increase. The new model shows a positive relationship between nominal and real GDP, allowing for detailed analysis that can be applied to any economy. The researchers recommend that the Albanian government and institutions use this effective model for economic analysis.