The long-term causality. A comparative study for some EU countries
Ioana Viașu ()
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Ioana Viașu: Faculty of Economics and Business Administration, West University of Timisoara
Authors registered in the RePEc Author Service: Ioana Luciana Viaşu
Computational Methods in Social Sciences (CMSS), 2015, vol. 3, issue 2, 28-35
Confronted with the inadequacies of the macro econometric models of Keynesian inspiration, Sims (1980) formulates the famous criticism of Sims and proposes a multivariate modelling, where the only limitations are the choice of the selected variables and the number of integrated delays. An alternative to this formulation is the starting point of this article namely, only statistical data can confirm a theory. As it is well-known, the endogenous growth models usually examine all kinds of dependencies between macroeconomic variables. In this paper, we propose an analytical approach of some of these dependencies via the VAR approach, in order to put in evidence the causal effect and to do a comparative study of three EU countries Germany, France and Romania. The obtained results widely confirm the theoretical hypotheses of the endogenous growth models.
Keywords: vector autoregressive model; economic growth; causality test (search for similar items in EconPapers)
JEL-codes: C01 C32 C51 (search for similar items in EconPapers)
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Persistent link: http://EconPapers.repec.org/RePEc:ntu:ntcmss:vol3-iss2-15-028
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