Time Series Analysis for GDP & Consumption in Austria (1970 - 2020)
The project as aimed at delivering key cointergraion relationships btw consumption and GDP in Austria in 1970-2020 based on World Bank Data. In terms of the project I intended to realize two main objectives:
- Determining cointegration relationship with Engle-Granger & Johansen procedures and a long-term relationship between consumption & GDP
- Building up a forecast based on ARIMA(p,d,q) methodology for one time series While executing key TSA procedures, I tested the time series for unit roots and chose model specifications that would fit the TS best.