Evolution Scenarios at the Romanian Economy Level, Using the R.M. Solow Adjusted Model

Ion Gh. Rosca and Stelian Stancu
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Ion Gh. Rosca: Academy of Economic Studies, Bucharest
Stelian Stancu: Academy of Economic Studies, Bucharest

Theoretical and Applied Economics, 2008, vol. 6(523), issue 6(523), 03-10

Abstract: Besides the models of M. Keynes, R.F. Harrod, E. Domar, D. Romer, Ramsey-Cass-Koopmans model etc., the R.M. Solow model is part of the category which characterizes the economic growth. The paper proposes the presentation of the R.M. Solow adjusted model with specific simulation characteristics and economic growth scenario. Considering these aspects, there are presented the values obtained at the economy level, behind the simulations, about the ratio Capital on the output volume, Output volume on employee, equal with the current labour efficiency, as well as the Labour efficiency value.

Keywords: reprezentive consumer; reprezentive firm; macroeconomic model; macroeconomic equilibrium; evolution scenarios; simulation; labour efficiency. (search for similar items in EconPapers)
Date: 2008
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