Most of the international commercial transactions consist of merchandise and capital flows. The fluidization of these flows implies special financing techniques or the use of some payment instruments adequate to the purpose: minimum risk, time and cost. The payment sources or instruments can...

Monetary policy should be guided by macroeconomic models with limited nominal rigidity – ‘New Classical’ or even for some issues just plain Classical (i.e. with no nominal rigidity at all) models are perfectly adequate for understanding various aspects of the economy that have previously...

The purpose of the paper is to present an efficient instrument for simulation and research of inflation and its determinants in Romania, with a focus on the short-term impact of changes in money, foreign exchange and wage policies and controlled prices as well as the impact of external shocks as...

This paper estimates using econometric techniques the equilibrium exchange rate in Romania based on fundamentals. The cointegration technique lead to the conclusion that an increase in relative prices differential between Romania and Euro zone and an increase in net foreign assets of the banking...

The study has as its objectives, to determine the influence of price volatility and price expectation in the rate of inflation as a measure of the price level. In addition, the study sought to evaluate ipso facto the extent to which monetary policy has influenced inflation by reducing price...

This paper assesses the level of readiness of Romania to adopt euro, based on nominal and real convergence criteria evaluation. We used the optimal currency area criteria in order to assess the real convergence process in Romania. The main conclusion of the paper is that more progress is...

The paper aims to evaluate the degree of business cycle synchronization and similarity of economic structures between Romania and the euro zone from the perspective of European Monetary Union (EMU) integration. Despite the fact that the euro adoption can generate benefits for the Romanian...

The premise from which we start is that the main cause of economic crises is the constant attempt to create, what Georgescu-Roegen called, "entropy of contraband." The phrase refers to a fictional creation of an energy that does not exist. To prove this we describe the major crises that have hit...

Approaching the theory of economic cycle is not an issue that comes in hand! We are permitted to make such a statement based on the idea that explanations concerning the business cycle theory are strictly related to how each school of thought was able to understand the system that makes market,...