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The "Dobrescu Macromodel" of the Romanian Market Economy - 2005 Version Yearly Forecast Summer Forecast 2009

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  • Institute for Economic Forecasting
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    Abstract

    The macromodel estimates the short and medium-term economic implications for domestic policies and changes in the international context. This version of the Romanian macromodel incorporates the experience accumulated through the utilisation of its previous forms - either experimental (tested during 1991-1995) or operational (developed during 1996-2003). At the same time, it introduces some methodological and informational improvements. The most significant is the structural decomposition of the economy, associated with input-output techniques. Due to the relatively advanced stage of the transition processes in Romania, the behavioural functions were accommodated - as much as possible - to the standard relationships. Unlike the versions that used the statistical series beginning with 1980, the present one is based exclusively on information concerning the period 1989-2004. Therefore, we consider it is appropriate to name this variant the macromodel of the Romanian market (not transition, as before) economy. In this article we present three scenarios for 2009.

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    Bibliographic Info

    Article provided by Institute for Economic Forecasting in its journal Romanian Journal for Economic Forecasting.

    Volume (Year): 6 (2009)
    Issue (Month): 2 (June)
    Pages: 200-203

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    Handle: RePEc:rjr:romjef:v:6:y:2009:i:2:p:200-203

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    Keywords: model; input-output analysis; econometric relationships; simulations;

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