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Asymmetric Effects of Inflation in Romania Based on Nonlinear Autoregressive Distributed Lags Approach

In: Reimagining Capitalism in a Post-Globalization World

Author

Listed:
  • Adriana AnaMaria Davidescu

    (Bucharest University of Economic Studies
    National Scientific Research Institute for Labour and Social Protection)

  • Eduard Mihai Manta

    (Bucharest University of Economic Studies)

  • Cristina Maria Geambasu

    (Bucharest University of Economic Studies)

  • Margareta-Stela Florescu

    (Bucharest University of Economic Studies)

  • Alexandra Miler

    (Bucharest University of Economic Studies)

Abstract

The inflation dynamics can be determined by external factors, such as the global economic disturbances causing an economic crisis that also affected Romania, or they can be internal, such as national debt. Among the influencing factors of domestic inflation, the output gap and unemployment are variables frequently used in the analysis of inflation dynamics. The main aim of this chapter is to investigate the asymmetric effects of the output gap and the unemployment gap on the inflation rate in Romania, with the help of quarterly data for the period 2000–2021. To analyze those, as mentioned earlier, the nonlinear autoregressive distributed lags (NARDL) model was applied. The results highlighted the presence of a unidirectional short-term relationship between inflation and the unemployment gap and no relationship between inflation and the output gap.

Suggested Citation

  • Adriana AnaMaria Davidescu & Eduard Mihai Manta & Cristina Maria Geambasu & Margareta-Stela Florescu & Alexandra Miler, 2024. "Asymmetric Effects of Inflation in Romania Based on Nonlinear Autoregressive Distributed Lags Approach," Springer Proceedings in Business and Economics, in: Silvia L. Fotea & Sebastian A. Văduva & Ioan Ş. Fotea (ed.), Reimagining Capitalism in a Post-Globalization World, chapter 0, pages 365-384, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-59858-6_25
    DOI: 10.1007/978-3-031-59858-6_25
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