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Forecast of Romanian Industry Employment using Simulation and Panel Data Models

Author

Listed:
  • Andreica, Madalina Ecaterina

    (The Bucharest University of Economic Studies, National Scientific Research Institute for Labor and Social Protection)

  • Andreica, Marin

    (The Bucharest University of Economic Studies)

Abstract

In this paper, we have built several panel data models at industry level for the period 2000-2011, by considering the impact of various macroeconomic variables, such as labour cost and average gross earnings, upon employment in Romania. A forecasting scenario was then built to forecast the employment in Romania. The results of the econometric analysis were consistent with the empirical evidence, while the analysis offered relevant inside information about the performances of the economic activities of the Romanian industry.

Suggested Citation

  • Andreica, Madalina Ecaterina & Andreica, Marin, 2014. "Forecast of Romanian Industry Employment using Simulation and Panel Data Models," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 130-140, June.
    • Handle: RePEc:rjr:romjef:v::y:2014:i:2:p:130-140
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    References listed on IDEAS

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    1. Albulescu, Claudiu Tiberiu, 2010. "Forecasting The Romanian Financial System Stability Using A Stochastic Simulation Model," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 81-98, March.
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    4. Daniel Hoechle, 2007. "Robust standard errors for panel regressions with cross-sectional dependence," Stata Journal, StataCorp LP, vol. 7(3), pages 281-312, September.
    5. Andreica, Marin, 2006. "A Model to Forecast the Evolution of the Structure of a System of Economic Indicators," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 3(1), pages 65-73, March.
    6. David M. Drukker, 2003. "Testing for serial correlation in linear panel-data models," Stata Journal, StataCorp LP, vol. 3(2), pages 168-177, June.
    7. Dobrescu, Emilian, 2010. "Macromodel Simulations for the Romanian Economy," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 7-28, July.
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    Cited by:

    1. Elisabeta Jaba & Ioan-Bogdan Robu & Costel Istrate & Christiana Brigitte Balan & Mihai Roman, 2016. "Statistical Assessment of the Value Relevance of Financial Information Reported by Romanian Listed Companies," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 27-42, June.
    2. Oana Simona HUDEA (CARAMAN), 2015. "Romanian Economy Modelling in the presence of Financial Frictions," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 63(9), pages 19-26, September.
    3. Mãdãlina Ecaterina POPESCU, 2015. "Proposal for a Decision Support System to Predict Financial Distress," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 16(1), pages 112-118, March.
    4. Madalina Ecaterina Popescu & Maria-Isadora Lazar, 2015. "Analysis of the Post-Crisis Economic Performances in the European Union," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 11(3), pages 5-14, June.
    5. Marin ANDREICA & Madalina Ecaterina POPESCU & Dragos MICU & Eugen ALBU, 2016. "Adaptive Management Procedural Model For Support Of Economic Organizations," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 10(1), pages 295-301, November.
    6. Gheorghe Hurduzeu & Maria-Isadora Lazar, 2015. "An Analysis of Economic Growth, Competitiveness and Macroeconomic Imbalances in the European Union," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 18(57), pages 37-50, September.

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    More about this item

    Keywords

    simulation; panel data estimation; employment; industry;
    All these keywords.

    JEL classification:

    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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    Access and download statistics

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