In this paper we analyze the impact of quantitative easing policies issued by the European Central Bank, the Bank of England, the Federal Reserve and the Bank of Japan on credit risk, in nine states belonging mainly to the Central and Eastern European area. We use an ARMA-GARCH model to obtain...

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...

The paper presents some results revealing the existence of the Balassa-Samuelson effect in Romania as well as some estimates of its impact on inflation, appreciation of the real exchange rate and rising competitiveness of the Romanian economy. * Study published in PAIS III; Studiul nr. 2/2005;...

Equilibrium real exchange rate provides useful information on the harmonisation of convergence criteria with exchange rate stability criteria; a requirement for accession to the European Monetary Union. This study applies econometric procedures for identifying the equilibrium real exchange rate...

The aim of the paper is to assess the determinants of foreign direct investment (FDI) inflow for the recent members of the EU (CEEC-41) using panel data methods. Our analysis is important because FDI is considered as a main contributor to economic development, modernization, income growth,...

The analytical approach is conducted at the macroeconomic level and the problems that are discussed here come under the impact of the fiscal policy and the tax level on the macro stabilizing programs, the way it is approached in the literature and some of these models are presented here. In...

In 2005, the revised Lisbon Strategy decided upon an integrated program of policy reforms envisaging the labor market in the context of globalization, demographic changes and fast technological progress, transposed into integrated guidelines. Such reforms aimed at increasing the employment...

Macroeconomic forecasting started around the Second World War as a way to test economic theories, but it also has a number of very concrete uses, playing an increasing role as an input in decision-making. The first macroeconomic models were produced by two famous economists, Tinbergen in 1939...

At present, there is not an unique indicator to evaluate the converge process. Varying with the assumptions and methodologies considered, with the indicators used and with the periods analysed, the results of the studies on convergence in the European Union are often ambiguous. Some of them...

Last period a number of studies try to many demonstrate how the non-linear models can be useful to investigate the behavioural of dynamic economic systems. Using some adequate non-linear models could be a good way to find more refined solutions to actually unsolved problems or ambiguities in...