The paper discusses several problems of estimating the total factor productivity used in the Romanian macroeconomic model. The author suggests some improvements of the formula adopted in the version 2005 of this macromodel

The measurement of potential output has been addressed in economics from the supply- and demand-side perspectives. The purpose of this study was to deepen the latter interpretation, focusing on market conditionalities and providing a macro-model (EUMOD21) as a computational tool. This empirical...