Dynamic Global Economic Models

Epure Dãnuþ Tiberius (), Orac Mãdãlina and Teliceanu Claudiu
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Epure Dãnuþ Tiberius: “Ovidius” University of Constanta, Faculty of Economic Sciences
Orac Mãdãlina: “Dunãrea de Jos” University of Galaþi
Teliceanu Claudiu: “Dunãrea de Jos” University of Galaþi

Ovidius University Annals, Economic Sciences Series, 2011, vol. XI, issue 2, 423-426

Abstract: This paper highlights the historical trajectory of the global economic forecasting models of type GEM (Global Economic Model) and a comparative analysis of advantages and limitations offered by each model. The GEM 2004 is based on the correlation that exists between the academic scientific research and the existing economic policy models, which after its application, resulted that real GDP in the euro area will increase as a result of higher capital stock and number of hours worked. Consumption will increase as a result of increased investment and depreciation of the euro, while investments will be influenced by the economic reforms implemented. The GEM 2007 is a multiregional model covering the global economy that allows the analysis of the bilateral trade flows and the relative prices for each region.

Keywords: evolution of the work; government consumption; government investment; public procurement; GDP growth. (search for similar items in EconPapers)
JEL-codes: F23 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xi:y:2011:i:9:p:423-426

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