Econometric analysis of quality wine consumption in Spain

Abstract

This study, entitled “Econometric Analysis of Quality Wine Consumption in Spain”, conducts an in-depth examination, from an econometric perspective, of the time series on quality wine consumption in Spanish households, compiled from data provided by the Consumption Panel of the Spanish Ministry of Agriculture, Fisheries, and Food. After analyzing the historical series, its dynamics are identified, and an ARIMA forecasting model is subsequently proposed and validated using the Box and Jenkins (1970) methodology, one of the most effective short-term quantitative forecasting approaches. Finally, twelve-month forecasts are generated with the model and subjected to validation.