The paper presents the methodology for attaching probability distribution or intervals of variation to point forecasts. This methodology might prove significant for countries that have suffered deep structural transformations in their not very distant past. For these models, stability is more...

The paper aims to estimate the New Keynesian Phillips curve in the case of Romanian economy. The empirical model estimates simultaneously the potential output and the output gap; the natural rate of unemployment and the cyclical unemployment as an Okun Law type relationship; and the New Phillips...

With respect to the household allocation process, this is done in two ways, either through common utility models or through collective models. In this article the author presents briefly the two types of models and the differences between them, discussing then a simple empirical test of the...

Motivated by the importance of the “displaced worker” phenomenon in both the East and the West, in this paper the authors analyze a model of job search behavior where the unemployed worker has imperfect knowledge of the wage offer distribution. This paper attempts within the limits imposed...

Lucrarea prezintă modul de a cuantifica incertitudinea în cazul modelelor economice, datorită faptului că in ecuaţiile comportamentale coeficienţii econometrici sunt variabile aleatore şi nu se cunoaşte valoarea lor, ci numai un estimat al acesteia. Aplicând metode de simulare...