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The article provides alternative definitions of poverty. The various and interrelated factors affecting it are analyzed, which are often random in nature. Accordingly, the necessity of using adequate statistical methods is emphasized. Several essential factors for calculating the poverty rate have been identified. The Cobb-Douglas neoclassical production function, which has been widely used in empirical research since the 20s of the last century, is used to construct the model. The theoretical justification of the model is based on Keynes' concept of the relationship between the employment rate, aggregate demand and total output. The absolute indicator is taken as the measure of poverty, and the volume of investments, Gini and freedom indices are the factors affecting it. In order to solve the model by the method of least squares, they were linearized by means of logarithms. On the basis of the constructed, statistically significant econometric model, appropriate conclusions are drawn. The degree of adequacy of the model can be increased with the increase in the volume of statistical data and/or in case of highlighting any other essential factors affecting poverty. Keywords: poverty, poverty line, aggregate demand, total output, production function, economic freedom index, Gini coefficient, investment rate, least squares method, econometric model. |
