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Some considerations of the main determining variables in the models used to estimate inflation

Author

Listed:
  • Anca BANDOI
  • Ion TOMITA

    (University of Craiova)

Abstract

In this paper we intend to present some theoretical approaches regarding measuring of the main determinants influence on inflation and based on these determinations to present the developments observed in the Romanian economy. Inflationary process is in the spotlight of all the world authorities, being concerned with quantification and imbalances controlling generated by disfunction of macroeconomic variables. In this context we focus on how the unit cost of labor affects inflation. The result of our research shows that due to the impact of real wage on the cost of the producer, the sales prices are obviously affected, the impact including exports. Theoretical models sustain the conclusion that the nominal wage may not be relevant since it doesn’t show the influence of labor productivity.

Suggested Citation

  • Anca BANDOI & Ion TOMITA, 2009. "Some considerations of the main determining variables in the models used to estimate inflation," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(9), pages 116-121, May.
    • Handle: RePEc:aio:fpvfcf:v:1:y:2009:i:9:p:116-121
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    More about this item

    Keywords

    variable; model; inflation; sales prices; exports; real wage;
    All these keywords.

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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