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Sustainability Function

Author

Listed:
  • Albu, Lucian Liviu

    (Institute for Economic Forecasting, Romanian Academy, Bucharest, e-mail: albul@ipe.ro)

Abstract

The study represents an attempt to build a generalized sustainability function. After that, a model was developed in order to integrate the sustainability function within the general economic growth context. The author conceived two partial models (their parameters are being estimated on the basis of statistical data for the period 1993-2000) destined to simulate the following correlations: investment rate-growth rate and investment rate-investment efficiency. The main hypotheses on which the models are based are relatively simple, being intensively used in standard macroeconomic studies. The two partial models were combined in order to study the sustainability behavior on the real side of economy and the conclusion that the dynamics of the sustainability function, despite the imposed simplifying hypotheses, demonstrated a vast complexity was reached. Considering a general model in a reduced form, some plausible intervals from the economic viewpoint were set up.

Suggested Citation

  • Albu, Lucian Liviu, 2002. "Sustainability Function," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 5-14, June.
    • Handle: RePEc:rjr:romjef:v::y:2002:i:2:p:5-14
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    Citations

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    Cited by:

    1. Zaman, Gheorghe & Georgescu, George, 2014. "Romania’s external debt threats," Working Papers of Institute for Economic Forecasting 141215, Institute for Economic Forecasting.
    2. Ana Patricia HOMORODEAN (CSATLOS) & Roxana Mihaela SIRBU (OARZA) & Cristian MOCAN, 2014. "Sustainability Of Tax System In Romania," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 5, pages 327-332, November.
    3. Covalschi Tatiana & Lazăr Sebastian, 2016. "The Sustainability of Public Finances in Republic of Moldova Under EU Fiscal Rules," Scientific Annals of Economics and Business, Sciendo, vol. 63(2), pages 149-159, June.
    4. Albu, Lucian-Liviu, 2008. "A simulation model of public debt sustainability," MPRA Paper 11713, University Library of Munich, Germany.
    5. Albu, Lucian Liviu, 2006. "Trends in the Interest Rate - Investment - GDP Growth Relationship," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 3(3), pages 5-13, September.
    6. Marian Dobranschi, 2010. "The sustainability of public debt in Romania in economic and financial crisis," Studies and Scientific Researches. Economics Edition, "Vasile Alecsandri" University of Bacau, Faculty of Economic Sciences, issue 15.
    7. Pelinescu, Elena, 2013. "The Mechanisms of Arrears in Romania," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 223-239, June.
    8. Albu, Lucian-Liviu, 2010. "Scenarios for post-crisis period based on a set of presumed changes in the interest rate – investment – GDP growth relationship," MPRA Paper 32753, University Library of Munich, Germany.
    9. Piotr Krajewski, 2017. "Heterogeneity of Households and the Effects of Fiscal Policy in the CEE Countries," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 79-93, June.
    10. Zaman Gheorghe, 2011. "Challenges, Vulnerabilities And Ways Of Approach In Romania'S External Debt Sustainability," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(special), pages 11-44, July.
    11. Albu Lucian-Liviu, 2011. "Fiscal And Debt Sustainability And Growth Challenges," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 6(3), pages 5-38, December.

    More about this item

    Keywords

    sustainability function; model; simulation;
    All these keywords.

    JEL classification:

    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General

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