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Remarks On Potential Gdp Estimation In Romania

Author

Listed:
  • Ana-Michaela Andrei

    (Bucharest Academy of Economic Studies)

  • Gheorghe Oprescu

    (Bucharest Academy of Economic Studies)

  • Mihai Roman

    (Bucharest Academy of Economic Studies)

  • Ramona-Mihaela Păun

    (Bucharest Academy of Economic Studies)

Abstract

This paper is focused on potential GDP and output gap estimation in Romania using a univariate method – HP filter and a multivariate method – production function method that are applied on annual time series covering years 1990-2008. The production function we use is Cobb-Douglas with potential labor computed with the method proposed by Elmeskov (1993). The results indicate for potential output variations between 0.36% and 2% between 1994-2000 and 5%-6.7% between 2004-2008. For output gap, the results point to stronger gaps at the beginning of 1990s’ that decrease within range of -2.3% and +2.7% between 1999-2000.

Suggested Citation

  • Ana-Michaela Andrei & Gheorghe Oprescu & Mihai Roman & Ramona-Mihaela Păun, 2009. "Remarks On Potential Gdp Estimation In Romania," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 12(12(541)(s), pages 245-252, December.
    • Handle: RePEc:agr:journl:v:12(541)(supplement):y:2009:i:12(541)(supplement):p:245-252
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    File URL: http://www.ectap.ro/documente/suplimente/Finantele%20si%20stabilitatea%20economica_Finante_en2010.pdf
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    Cited by:

    1. Ana Michaela ANDREI, 2014. "Using asymmetric Okun law and Phillips curve for potential output estimates: an empirical study for Romania," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2014(23), pages 6-18, December.

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