I compare the two alternative paradigms of business cycles for the case of the Romanian economy, namely the mainstream view that business cycles are driven by stochastic shocks and the nonlinear view, known as the endogenous business cycles theory, which states that business cycles are driven by...

The monthly data of the industrial production in Romania after the structural discontinuity occurring at the end of 1989 show an under-damped oscillatory behavior that suggests an evolution of second order systems excited by a step function. Since this behavior is well described in control...

The purpose of this study is to estimate the Okun coefficient for Romania for the 1991-2004 period. In order to derive it, I use a few alternative methods. As a dependent variable I use the gap of the unemployment rate while the independent variable is the gap of the production, where the...

This paper** addresses the problem of Okun's coefficient for the Korean economy. By running regressions between the unemployment and employment variables cycles and the economic activity cycles, I find that Okun's Law has held in Korea in the last decades. At the same time, the results indicate...

I use the Markov Switching AR approach to model the business cycles in Romanian economy for the 1991-2008 period using monthly data on industrial production. The time series used allows for a comparison with previous dating of Romanian business cycles. Generally, the MS-AR performs well,...

The way the SWF activity has intensified in the last 7 years asks for a more detailed analysis of these financing-development methods. The field of financing by sovereign wealth funds is currently less explored by the scientific literature and it can underlie the current and near future...

The paper presents the yearly and monthly forecast of the Romanian transition economy performed on the basis of the “Dobrescu” macromodel.

The paper briefly presents the "Dobrescu" macromodel, the 2002 version, and the yearly and monthly (September version) forecast of the Romanian transition economy computed on its basis. * (Source: Emilian Dobrescu, Macromodels of the Romanian Transition Economy, Third edition, Expert Publishing...