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Routes and Trends of Romanian Core Economic Variables

Author

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  • Oana Simona HUDEA (CARAMAN)

    (Academy of Economic Studies)

Abstract

The present paper is centred on the analysis of a basic, classical, closed economy dynamic stochastic general equilibrium model, revealing some core economic variables, captured at the level of our country, both from the perspective of their reaction to the shock on technology and from the one relating to their evolution on medium to long term. After a brief rendering of the problems maximised and solved, given the constraints, by the two economic agents considered, households and firms, as well as subsequent to the presentation of the equilibrium established on the market of goods and services, the final equations are selected and implemented in Dynare, a specific tool of Matlab. The numeric results obtained and the related graphical representations are thereafter construed, the end purpose being the formulation of several suggestions regarding the appropriate economic decisions to be made in the future, by the entitled entities, in order to lay the grounds of a desirable economic growth.

Suggested Citation

  • Oana Simona HUDEA (CARAMAN), 2014. "Routes and Trends of Romanian Core Economic Variables," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 62(10), pages 129-137, Octomber.
    • Handle: RePEc:rsr:supplm:v:62:y:2014:i:10:p:129-137
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    More about this item

    Keywords

    closed economy; dynamic stochastic general equilibrium model; forecasting patterns; impulse-response function; real business cycle;
    All these keywords.

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • C68 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computable General Equilibrium Models
    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications

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