This paper examines the modelling complications that appear when some macroeconomic behavioral relationships interact with structural variables, even under a given A matrix. The main problem is related to the situation when: a) the final consumption, gross fixed capital formation, inventory...

The ordinary least square method (OLS) is frequently used for the parameters estimation of different functional relationships. Having in view a series of properties revealed by the author, this paper presents the factors that determine the size of the estimated parameters and coefficients of...

Economic time series are, in their vast majority, integrated series so, their modelling procedure stumbles upon the problem of spurious regression. When existent, cointegration is the simplest way of eliminating the illogical correlation established between time series due to the presence of...

The paper describes the version (2012) of the Romanian economic macromodel2. The model has been constructed taking into account the important consequences induced by the integration of the country into the European Union and by the world crisis. Some supplementary requests of the government...

Based on the 2012 Version of the Romanian Macromodel, the first section of this paper discusses the evolution of the Romanian economy in 2014. The previous simulations were revised taking into account the changes in the internal and external socio-economic conjuncture or in the available...

This paper aims to investigate the demand for money in Kazakhstan. This study covers the period starting from 2000:01, when capital liberalization program was launched and the National Bank approved managed float regime (the National Bank employed adjustable exchange rate regime before exchange...

This article studies how to employ aggregate data to estimate sectoral price stickiness, which is described by the Calvo-style price setting. We find that sectoral price stickiness cannot be effectively estimated by the Bayesian approach of the multisector new Keynesian model that is used in...

The new (2002) version of the "Pre-Accession Economic Program" has to take into account both the experience accumulated in the implementation of its previous (2001) form, and the changes occurred during 2001-2002 in the domestic and international environment, which have affected the Romanian...

There is a relationship between predictability and complexity. The problem of evaluating the complexity of the macroeconomic phenomenon can be reduced to decomposition into its principal components (which may have, in their turn, a certain degree of complexity) and to identify its common sources...

Having in view the three main methods for the estimation of the informal economy's size, the study focuses in the first part on data and methodological problems, trying at the same time to outline a few behavioral aspects by using only simple simulation models. Thus, based on a 288-sample and...