Lawrence Robert Klein played a fundamental role in the genesis and development of econometric applications and forecasting. The work dedicated to forecasting earned him the 1980 Nobel Prize in Economic Sciences "for the creation of econometric models and their application to the analysis of...

In this paper we analyze the impact of quantitative easing policies issued by the European Central Bank, the Bank of England, the Federal Reserve and the Bank of Japan on credit risk, in nine states belonging mainly to the Central and Eastern European area. We use an ARMA-GARCH model to obtain...

The aim of the paper is to assess the determinants of foreign direct investment (FDI) inflow for the recent members of the EU (CEEC-41) using panel data methods. Our analysis is important because FDI is considered as a main contributor to economic development, modernization, income growth,...

Among economists it is widely believed that high tax rates and ineffective tax collection by the government are the main causes contributing to the rise of the informal economy. Economists have already established two relationships, at least empirically demonstrated, between tax rates and tax...

The paper tries to estimate the natural rate of unemployment in the case of Romania, concentrating on implementing an econometric schedule in order to estimate the value of the NAIRU. One of the major problems in literature is that of identification, and the solution could be in finding certain...

The paper aims to model the underground economy using two different models: one based on the labor supply method and a generalized model for the allocation of time. The model based on the labor supply method is conceived as a simulating one in order to determine some reasonable thresholds of the...

An important goal of the study is to demonstrate that the actual transition in the East European economies is going to be integrated into a more general process of a long-run transition, which also includes the Western economies. The author designed two models for capturing stagflation and for...

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...

The paper analyzes the dynamics and structure of GDP in Romania during the transition period. Two simulation scenarios are proposed on the basis of a standard production function. The first simulation uses an augmented production function with FDI and exports, while the second simulation uses a...

One of the most significant impediments for short-term forecasts is the frequency of publishing GDP. At present, national institutes of statistics are publishing officially registered GDP only quarterly. In our study, we tried to build a composite indicator based on usually monthly data and to...