A New Version (2018) of the Romanian Macromodel - Aggregate System
Emilian Dobrescu ()
MPRA Paper from University Library of Munich, Germany
Abstract:
The paper presents the version 2018 of the Romanian macromodel. Among its distinguishing features comparatively with previous variants can be mentioned: a) The econometric procedures are based on statistical series for 1989-2017 years, significantly longer than the previous version (1989-2011). b) There were improved methodological algorithms of approximating some missing data, especially those which concern the tangible fixed assets at constant prices, as a measure of the physical capital of economy. c) In order to ameliorate the operational tractability of the model, the specification of some relationships was revisited, and the modalities of ensuring inter-equation compatibility were also simplified. This version is structured into three main blocks: i) the production factors and output; ii) the domestic absorption and foreign trade; and iii) the prices and exchange rate, the national budget revenues and expenditures, the public debt. The experimental simulations confirmed the predictive plausibility of this new version.
Keywords: macromodel; accounting and behavioral relationships; simulations (search for similar items in EconPapers)
JEL-codes: C51 E01 E17 (search for similar items in EconPapers)
Date: 2018, Revised 2018
References: View references in EconPapers View complete reference list from CitEc
Citations:
Published in Romanian 4.21(2018): pp. 5-20
Downloads: (external link)
https://mpra.ub.uni-muenchen.de/119105/1/MPRA_paper_119105.pdf original version (application/pdf)
Related works:
Journal Article: A New Version (2018) of the Romanian Macromodel - Aggregate System (2018) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:119105
Access Statistics for this paper
More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().