The STUDIA UNIVERSITATIS BABEŞ-BOLYAI issue article summary

The summary of the selected article appears at the bottom of the page. In order to get back to the contents of the issue this article belongs to you have to access the link from the title. In order to see all the articles of the archive which have as author/co-author one of the authors mentioned below, you have to access the link from the author's name.

 
       
         
    STUDIA OECONOMICA - Issue no. 3 / 2015  
         
  Article:   ROMANIAN ECONOMY PROFILE BASED ON A STOCHASTIC ANALYSIS.

Authors:  .
 
       
         
  Abstract:  The paper captures, based on a simplified, small-size dynamic stochastic general equilibrium model and on Bayesian instruments, the evolution of the Romanian economy since the beginning of this century. The depicted economy is governed by basic representative agents: household, firm, financial organism, embodied by banks, and monetary authority, playing a subsidiary role. Two shocks are considered, the technology real shock and the money stock nominal shock, both of them impacting the economy and changing the trajectory of the relevant economic variables. The steady-state return time of the model variables and the estimates of the parameters allow us to set the pattern of future economic trends and to make pertinent decisions so as to attain sustainable macro-stabilization.

JEL Classification : C61, D12, D22

Keywords : stochastic analysis, Bayesian approach, steady-state of variables, technology and money stock impulse, general equilibrium
 
         
     
         
         
      Back to previous page