This is an original scientific paper that proposes the introduction in literature of two new accuracy indicators for assessing the global accuracy of the forecast intervals. Taking into account that there are not specific indicators for prediction intervals, point forecasts being associated to...

This is an original scientific paper that proposes the introduction in literature of two new accuracy indicators for assessing the global accuracy of the forecast intervals. Taking into account that there are not specific indicators for prediction intervals, point forecasts being associated to...

Inflation rate, unemployment rate and interest rate are some of the most important indicators used at macroeconomic level. These variables present an important interest for the central banks that establish the monetary policy (infl ation target), but also for the government interested in public...

This survey gives insight into the ongoing research in financial frictions modeling. The recent financial turmoil has fueled interest in operationalizing financial frictions concepts. The rapid growth of the literature on financial frictions motivates this review. The empirical facts that...

By incorporating habit formation into an overlapping-generations economy, we show that the middle-aged consumers’ savings decision has a substantial impact on the equity premium. The higher incentive for savings for the middle-aged, resulting from the habit formation preference, causes an even...

Starting from the predictions made by the Consensus Economics for the average percentage change in the previous year of the imports and exports of Euro Area for 2010 and 2011, some strategies to improve the forecasts accuracy were tested. The most accurate forecasts for 2010 were those based on...

In this study, the problem of forecasts accuracy is analysed on three different forecasting horizons: during the actual economic crisis, in few years before the crisis and on a large horizon. The accuracy of the forecasts made by European Commission, National Commission for Prognosis (NCP) and...

The aggregates, like GDP, can be forecasted using two different strategies, the criterion of predictions’ accuracy being used to select the best strategy. The aim of this paper is to find out what is the best strategy to be used in predicting GDP in Romania. In this study, for data series of...

This research brings as a novelty in literature the use of other methods to compare the forecasts accuracy: multicriterial ranks, non-parametric tests and binary logistic regression. Starting from the a conclusion stated in literature that Dobrescu model failed to predict the actual crisis in...

Economic debate about the proper size and role of the state is universal, from Adam Smith onwards. However, measurement, evolution and effectiveness of public spending is an empirical question rather delicate because it requires data, that at international level are still insufficient. The same...