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A Dynamic Model Of The Money Demand In Romania

Author

Listed:
  • Scutaru, Cornelia

    (Institute for Economic Forecasting, Romanian Academy, Bucharest)

  • Pelinescu, Elena

    (Institute for Economic Forecasting, Romanian Academy, Bucharest)

Abstract

The purpose of this paper is to offer an effective instrument for the simulation and research of money demand and its determinants, with a focus on the short-term impact of changes in parameters of monetary, foreign exchange and wage policies as well the impact of external shocks. Taking into account the weak structure of the Romanian economy, Dobrescu (1997), the authors confined the study to testing the model for short-term forecasts. In order to test the validity of the model, the results of the model were compared with the real developments in the first three months of this year and with values obtained through other models. Generally, the data estimated by using the model revealed the trend accurately, the deviations from real values being larger in the case of real variables due to the shocks and to the behavior of the economic agents in response to these shocks.

Suggested Citation

  • Scutaru, Cornelia & Pelinescu, Elena, 2001. "A Dynamic Model Of The Money Demand In Romania," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 32-47, June.
    • Handle: RePEc:rjr:romjef:v::y:2001:i:1:p:32-47
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    Cited by:

    1. PELINESCU, Elena & SIMIONESCU, Mihaela, 2014. "Modelling And Predicting The Real Money Demand In Romania," Journal of Financial and Monetary Economics, Centre of Financial and Monetary Research "Victor Slavescu", vol. 1(1), pages 117-124.

    More about this item

    Keywords

    money demand; monetary shocks; wage policies; forecasting;
    All these keywords.

    JEL classification:

    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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