MACROECONOMIC FORECASTING BASED ON A SAM MODEL OF THE ROMANIAN ECONOMY - Part I – Main Features of the Model

This paper presents an introduction to the theoretical background of a Social Accounting Model of the Romanian economy. The model will be implemented in order to forecast the main indicators of the NIPA system, Balance of Payments, Government Accounts and Monetary Survey. All these indicators constructed in the IMF financial structure are forecasted in five linked Excel spreadsheets: NatAcc, Trade, Foreign, GovAcc, MoneyAcc and then are translated into new variables of the matrix of the flow of funds of the institutional sectors.