We discuss the application of a new test for nonlinearity for economic time series. We apply the test for several monthly unemployment series from the developed economies. We find nonlinearities in the unemployment for most of the European economies, but not for US, UK or Japan.

In this paper, I study the impact of the domestic and external shocks on the Romanian economy. I use an open economy DSGE model and estimate it for the Romanian economy using Bayesian techniques. The impact of the domestic shocks is moderate but not persistent. The Euro Area demand and interest...

A New Keynesian model of open economy is estimated and discussed in the case of Romania. The model is estimated using quarterly data on a post-2000 sample. The paper focuses on the monetary policy analysis and compares several specifications for the monetary policy within the Bayesian framework....

I use the Markov Switching AR approach to model the business cycles in Romanian economy for the 1991-2008 period using monthly data on industrial production. The time series used allows for a comparison with previous dating of Romanian business cycles. Generally, the MS-AR performs well,...

In this study I make an estimation of the Solow model for the Romanian economy. Starting from the estimates of the parameters from other studies, I simulate the model both for the 1990-2004 period and in the long run. The study shows that the Solow model provides a good approximation of the...

"The Barometer of the Romanian Economy" intends to be a mirror of the evolution of the Romanian economy and, at the same time, to be its global indicator of the state and trend. "The Barometer of the Romanian Economy" was first published some years ago in Microeconomia aplicata, on the...

The purpose of this paper is to study and quantify the impact of the human capital in the process of economic growth in Romania over the 1990-2002 period. We will consider an augmented Cobb-Douglas production function to include the human capital, approximated by the number of schooling years...

The Barometer of the Romanian Economy" intends to be a mirror of the evolution of the Romanian economy and, at the same time, to be its global indicator of state and trend. "The Barometer of the Romanian Economy" was first published some years ago in Microeconomia aplicatã, on the initiative...

In this study, I estimate a monetary DSGE model using Bayesian techniques and I use the estimated model to forecast the Romanian GDP in the long run. For the 2008-2010 period, the forecasts with the model confirm the present consensus among the economists about a growth potential of 5 to 6% for...