Under the conditions of OLS use in order to perform multiple linear regressions, both the estimated parameters values and also computed values of some statistical tests such as coefficient of determination, Fisher test or Student test are influenced by collinearity1. The respective influence is...

In this paper, we propose a new model with random variance components for estimating small area characteristics. Under the proposed model, we derive the empirical best linear unbiased estimator, an approximation to terms of order and an estimator whose bias is of order for its mean squared...

The paper analyzes the dependencies between the variation in the indices of the exchange rate, electric, thermal power, gas and total energy, as well as the international oil price and their influence on the level of inflation. The series of data refer to the period January 1999 – December...

The paper analyzes the circumstances in which the combination of forecasts yields better results than the use of the forecasts separately. We propose a method of combining forecasts based on their efficiency on long and medium-term using as benchmarks the combination of forecasts based on...

This paper shows that dynamics of fixed capital productivity at macroeconomic level is related to changes in the indicators and relationships which are fundamental to the economic stability (index of gross fixed capital formation, consumption-fixed capital accumulation relationship, and external...

The paper analyzes the monetary policy transmission mechanism in Romania focusing on the exchange rate channel. The analysis is made in the context of an economy described by a mix of institutional and market behaviors illustrated by a SVAR model in which the restrictions imposed on the...

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...

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...

We continue with the problem of the relation between predictability and complexity in the Romanian economy, analyzing other two components of GDP: domestic consumption and public consumption. The basic idea of this work is that the unpredictability of a system gives a measure of its complexity,...

The structure of the macromodel used for simulations is presented in Introduction and in the Appendix. For the period 2005-2008, a Main Scenario was elaborated. It embodies performances envisaged in “Romania’s Medium-Term Economic Strategy” (2000) and in the 2001-2004 versions of the...