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...

Recently, a new test for nonlinearity and chaos was proposed, the noise titration technique. I discuss in this paper its relevance for the case of economic time series. I apply the test on two relevant datasets for which previous assessments exist, both simulated and real data. Compared to other...

This article shows that the possibility for our country to reduce the unemployment by using the means of traditional macroeconomic policies are limited due to the contraints imposed by the inflation targeting regime and due to the restrictions in governement expenditures. The most realistic ways...

In this paper we discuss the credit policy and how it affected the macroeconomic dynamics in Romania. We estimate a regression on quarterly data in which economic growth is the dependant variable and foreign direct investments and domestic credit are the explanatory variable. We found...

I use the Bayesian approach in order to derive an estimation of Okun coefficient for Romania. The data used is at quarterly frequency and it consists in the unemployment rate and GDP between 2000 and 2009. I use three different priors, a normal one, a beta prior and a uniform prior for the...

Whether including monetary aggregates and different financial variables into small scale BVAR models improves the accuracy of output forecasts is tested for three emerging European economies. Various specifications for the priors of the BVAR models are used. The results are found to vary with...

Using the Bayesian approach, a small open economy DSGE model was estimated using a sample of quarterly data for three Central and Eastern Europe economies, Czech Republic, Hungary and Poland. The hypothesis that central banks react to exchange rate movements was tested using posterior odds...

We use a correlation-based approach to analyze financial data from the US stock market, both daily and monthly observations from the Dow Jones. We compute the entropy based on the singular value decomposition of the correlation matrix for the components of the Dow Jones Industrial Index. Based...

The multifractal spectrum of a time series can be ascertained with a number of techniques, some based on wavelets, others based on the much newer (multifractal) detrended fluctuation analysis (MF-DFA). We test for the presence of multifractality in daily data on selected exchange rates from...

This article shows that the possibility for our country to reduce the unemployment by using the means of traditional macroeconomic policies are limited due to the contraints imposed by the inflation targeting regime and due to the restrictions in governement expenditures. The most realistic ways...