Stylized Facts Of Romanian Business Cycle. The Literature (I)
If the more or less regulate moves of the macroeconomic variables are accepted by the economists as a reality, the problem of measuring the aggregate level of the economy in direct correlation with these fluctuations is much more difficult due to the numerous variables involved.The way these variables move in time is very different from a period to another as well as from a country to another. While some variables have already reached their maximum level, others are on their descendent slope. This is the reason why the measurement problem of the aggregate level of the macroeconomic activity deserves our attention. Finding the patterns macroeconomic variables move together and influence each other is important both as a theoretical challenge, but for its practical utility as well. Depending on the result of the measurement process, the authorities are able to conduct their economic policies. More precisely, the monetary or fiscal authority will act differently if the economy is in recession or in expansion.These are the reasons for which a very important phase in the study of the cycle is its descriptive analysis, which is realized by focusing on certain aspects, such as: the length and magnitude, the correlation of the economic variables with the reference series, the study of the cyclical indicators, the analysis of the relative variability of economic series, the diagnose and prevision based on the cyclical indicators.
Volume (Year): 1 (2012)
Issue (Month): 1 (July)
|Contact details of provider:|| Postal: Universitatii str. 1, Office F209, 410087 Oradea, Bihor|
Fax: 004 0259 408409
Web page: http://anale.steconomiceuoradea.ro/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Robert G. King & Charles I. Plosser, 1982. "The Behavior of Money, Credit, and Prices in a Real Business Cycle," NBER Working Papers 0853, National Bureau of Economic Research, Inc.
- Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
- Christiano, Lawrence J & Eichenbaum, Martin, 1992.
"Liquidity Effects and the Monetary Transmission Mechanism,"
American Economic Review,
American Economic Association, vol. 82(2), pages 346-353, May.
- Lawrence J. Christiano & Martin Eichenbaum, 1992. "Liquidity effects and the monetary transmission mechanism," Staff Report 150, Federal Reserve Bank of Minneapolis.
- Lawrence J. Christiano & Martin Eichenbaum, 1992. "Liquidity Effects and the Monetary Transmission Mechanism," NBER Working Papers 3974, National Bureau of Economic Research, Inc.
- Mankiw, N Gregory, 1989. "Real Business Cycles: A New Keynesian Perspective," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 79-90, Summer.
- N. Gregory Mankiw, 1989. "Real Business Cycles: A New Keynesian Perspective," NBER Working Papers 2882, National Bureau of Economic Research, Inc.
- Lucas, Robert E, Jr, 1975. "An Equilibrium Model of the Business Cycle," Journal of Political Economy, University of Chicago Press, vol. 83(6), pages 1113-1144, December.
- Long, John B, Jr & Plosser, Charles I, 1983. "Real Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 39-69, February.
- Patrick Minford & Prakriti Sofat, 2004. "An Open Economy Real Business Cycle Model for the UK," Money Macro and Finance (MMF) Research Group Conference 2004 23, Money Macro and Finance Research Group.
- McCallum, Bennett T, 1989. " New Classical Macroeconomics: A Sympathetic Account," Scandinavian Journal of Economics, Wiley Blackwell, vol. 91(2), pages 223-252.
- King, Robert G & Plosser, Charles I, 1984. "Money, Credit, and Prices in a Real Business Cycle," American Economic Review, American Economic Association, vol. 74(3), pages 363-380, June.
- Lucas, Robert E, Jr, 1973. "Wage Inflation and the Structure of Regional Unemployment: Comment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 5(1), pages 382-384, Part II F.
- Barro, Robert J., 1976. "Rational expectations and the role of monetary policy," Journal of Monetary Economics, Elsevier, vol. 2(1), pages 1-32, January. Full references (including those not matched with items on IDEAS)
When requesting a correction, please mention this item's handle: RePEc:ora:journl:v:1:y:2012:i:1:p:624-629. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Catalin ZMOLE)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.