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Informal Economic Estimation Models at Macroeconomic Level. Some Theoretical and Methodologial Considerations

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  • Lucian Liviu ALBU

    (National Economic Forecasting Institute, Romanian Academy, Bucharest, Romania)

  • Ion GHIZDEANU

    (National Economic Forecasting Institute, Romanian Academy, Bucharest, Romania, President of the Romanian Commission for Economic Forecasting)

  • Mărioara IORDAN

    (National Economic Forecasting Institute, Romanian Academy, Bucharest, Romania)

Abstract

The analytical approach is conducted at the macroeconomic level and the problems that are discussed here come under the impact of the fiscal policy and the tax level on the macro stabilizing programs, the way it is approached in the literature and some of these models are presented here. In Romania’s case, the methodology of Dobrescu (1994, 1996) and Albu and the others (1998) is the most common methodology used, for the transition period, in order to estimate the impact that the grey economy has by comparison with the general economy dynamics and the relationship between the grey economy and the institutional approach (Daianu şi Albu, 1997). In the same time, there are some references are made to the detailed study on Laffer’s curve and its implications on the fiscal policy plans made by the Economic Forecast Institute in the CEPREMAP (Albu, 1995). Starting from the development of the previous theoretical model regarding the tax evasion in the grey economy using macroeconomics statistical data that are usually employed, in three sub-models, and through their combination, the authors build a general model.

Suggested Citation

  • Lucian Liviu ALBU & Ion GHIZDEANU & Mărioara IORDAN, 2008. "Informal Economic Estimation Models at Macroeconomic Level. Some Theoretical and Methodologial Considerations," Timisoara Journal of Economics, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 1(2), pages 177-190.
    • Handle: RePEc:wun:journl:tje:v01:y2008:i02:a04
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    References listed on IDEAS

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