The paper aims to estimate the New Keynesian Phillips curve in the case of Romanian economy. The empirical model estimates simultaneously the potential output and the output gap; the natural rate of unemployment and the cyclical unemployment as an Okun Law type relationship; and the New Phillips...

The paper aims to estimate the New Keynesian Phillips curve in the case of Romanian economy. The empirical model estimates simultaneously the potential output and the output gap; the natural rate of unemployment and the cyclical unemployment as an Okun Law type relationship; and the New Phillips...

This paper deals with the dynamic response of exchange rates, inflation and agricultural foreign trade in Bulgaria, Poland and Romania to global food prices. We employ time-varying VARs with stochastic volatility to estimate the behaviour of these macroeconomic variables over the 2001M1-2015M12...