Conference publications

Abstracts

XVI conference

A note on determination of the economic welfare growth index in EU

Guseynov Sh.E.

1 Lomonosov Street, Riga LV-1019, Latvia

In present work we consider the following mathematical problem for determination of weighted (true?!) Economic Welfare Growth Indexes of EU countries on their leading economic parameters on years:

(1)

where is an Economic Welfare Growth Index of the -th country in -th year; is the number of countries; is the number of leading economic parameters; are years, during which they are investigated the economic prosperity of the considering countries; are some constants that can be determined empirically; is the -th economic parameter of the -th country per fixed year ; finally, are unknown weights.

For each fixed values of parameters a weight has the meaning "a measure of the individual influence" of the corresponding economic parameter .

The formulation of problem is following: it is necessary to find unknown functions and for each under known initial data , , , , , and . In present work it is shown that the consider problem is ill-posed, and this problem is solved by Tikhonov's regularization method.

References

1. Barro R.J. Determinants of Economic Growth: A Cross-Country Empirical Study. – Harvard University Press, 1997. 579 pp.

2. Barro R.J., Grilli V. European Macroeconomics. – Hampshire: Palgrave Macmillan, 1994. 496 pp.

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