In this paper I calibrate and simulate the standard Real Business Cycles model for the Romanian economy. In this respect, I use a set of estimated data for capital stock and GDP at quarterly frequency for the period 1991-2002. The results show that the standard RBC can be a starting point for...

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...

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...

We discuss the properties of business cycles in Romania between 1991 and 2011 using a wavelets based method. We compare it with the standard approaches in literature. We analyze the relationship between output and key macroeconomic variables in time and frequency. While in terms of comovement...

We investigate the properties of the returns of the main emerging stock markets from Europe by means of complex networks. We transform the series of daily returns into complex networks, and analyze the local properties of these networks with respect to degree distributions, clustering, or...

We reassess the relationship between money and output using quarterly data from the US economy. We use several tools based on wavelets, the wavelet power transform and the wavelet coherence with which we analyze this relationship in both time and frequency. We find evidence of a weaker...

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...

One of the controversial issues in macroeconomics consists in whether the macroeconomic time series are better characterized as being driven by permanent shocks or by temporary shocks. We provide here new evidence using a recent unit-root test based on the wavelets methodology.

We investigate the existence of nonlinearities in the dynamics of the returns of stock markets indices from CEE economies. We use several types of nonlinear tests. We discuss the implications of the results with respect to the efficient market hypothesis.