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https://doi.org/10.1080/1331677X.2019.1640624

The behaviour of the Romanian economy analysed based on a dynamic stochastic general equilibrium model

Oana Simona Hudea ; Department of Social and Administrative Sciences, Faculty of Administration and Business, University of Bucharest, Bucharest, Romania

Puni tekst: engleski, pdf (2 MB) str. 1645-1666 preuzimanja: 55* citiraj
APA 6th Edition
Hudea, O.S. (2019). The behaviour of the Romanian economy analysed based on a dynamic stochastic general equilibrium model. Economic research - Ekonomska istraživanja, 32 (1), 1645-1666. https://doi.org/10.1080/1331677X.2019.1640624
MLA 8th Edition
Hudea, Oana Simona. "The behaviour of the Romanian economy analysed based on a dynamic stochastic general equilibrium model." Economic research - Ekonomska istraživanja, vol. 32, br. 1, 2019, str. 1645-1666. https://doi.org/10.1080/1331677X.2019.1640624. Citirano 04.04.2020.
Chicago 17th Edition
Hudea, Oana Simona. "The behaviour of the Romanian economy analysed based on a dynamic stochastic general equilibrium model." Economic research - Ekonomska istraživanja 32, br. 1 (2019): 1645-1666. https://doi.org/10.1080/1331677X.2019.1640624
Harvard
Hudea, O.S. (2019). 'The behaviour of the Romanian economy analysed based on a dynamic stochastic general equilibrium model', Economic research - Ekonomska istraživanja, 32(1), str. 1645-1666. https://doi.org/10.1080/1331677X.2019.1640624
Vancouver
Hudea OS. The behaviour of the Romanian economy analysed based on a dynamic stochastic general equilibrium model. Economic research - Ekonomska istraživanja [Internet]. 2019 [pristupljeno 04.04.2020.];32(1):1645-1666. https://doi.org/10.1080/1331677X.2019.1640624
IEEE
O.S. Hudea, "The behaviour of the Romanian economy analysed based on a dynamic stochastic general equilibrium model", Economic research - Ekonomska istraživanja, vol.32, br. 1, str. 1645-1666, 2019. [Online]. https://doi.org/10.1080/1331677X.2019.1640624

Sažetak
This paper aims to reveal the dynamic behaviour of the Romanian economy over a period of 14 and a half years, from 2000Q1 to 2014Q2, considering the stochastic action of 20 structural shocks. The study is based on a well-known dynamic stochastic general equilibrium model developed for the Swedish economy, which is adjusted to allow the author to capture the essential characteristics of the target country. Subsequent to the selection of the equations to be implemented for the effective estimation, the calibration of several parameters and the setting of the prior distributions for others, a Monte Carlo Markov Chains method is used, namely the Metropolis–Hastings algorithm, in order to reveal the overall results of the estimation process, thereafter properly construed considering their manifestation context.

Ključne riječi
DSGE models; Bayesian analysis; Markov chains; structural shocks; price stickiness; wage stickiness

Hrčak ID: 228829

URI
https://hrcak.srce.hr/228829

Posjeta: 86 *