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

Money market with inflation and constant money supply growth, Q. Money mark...

Q. Money market with inflation and constant money supply growth? If π M = π and π e = π, both IS- and LM-curve will be fixed.  Figure: The money market with inflatio

Product development project, What is the primary difference between a resea...

What is the primary difference between a research project and a product development project?

Economics 10, The demand for money schedule shows that the quality of money...

The demand for money schedule shows that the quality of money that people want to hold

Explain the gaap-determine the impairment loss, Panzer is a U.S. company.  ...

Panzer is a U.S. company.  It originated in the 1970s as a family-owned business that manufactures fine watches. The family continued to build the company by reinvesting profits in

Compute the lost social welfare, Consider a market where supply and demand ...

Consider a market where supply and demand are given by QXS = -18 + PX and QXd = 90 - 2PX. Suppose the government imposes a price floor of $41, and agrees to purchase any and all un

Unemployment, Who is considered unemployed?

Who is considered unemployed?

Geometric gradient series, Determine the present worth of a geometric gradi...

Determine the present worth of a geometric gradient series with a cash flow of $50,000 in year 1 and increases of 6% each year through year 8. The interest rate is 10% per year.

Trade cycle, discus the various measures that may be taken by a firm to cou...

discus the various measures that may be taken by a firm to counteract the evil effect of a trade cycle

International trade, factor contribute long run trend of term of trade in d...

factor contribute long run trend of term of trade in developing country

Illustrate biological effects of patulin, Q. Illustrate biological effects ...

Q. Illustrate biological effects of Patulin? Biological activity: Patulin has an acute oral LD 50 in rodents of about 30-50 mg/kg and has been shown to be teratogenic, immunot

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