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Effects of Fiscal Policy in Romania. The results of an empirical study based on a VAR type model

Author

Listed:
  • Talpoº Ioan

    (West University of Timisoara, Faculty of Economics and Business Administration)

  • Avram Alexandru

    (West University of Timisoara, Faculty of Economics and Business Administration)

  • Heteº Roxana

    (West University of Timisoara, Faculty of Economics and Business Administration)

Abstract

In this article, our target is to analyze the effects of fiscal policy on GDP in Romania, using a model based on an unrestricted Vector Autoregression Model (VAR). We used in our research the quarterly data taken from the National Statistics Institute reports and Eurostat. The main independent variables that we have included in our study are: private consumption, governmental debt, gross fixed capital formation, inflation, ROBOR interest rate, governmental consumption and gross domestic product. We have identified the effects of fiscal policy in Romania on the size of GDP after using the impulse function for the VAR type model.

Suggested Citation

  • Talpoº Ioan & Avram Alexandru & Heteº Roxana, 2012. "Effects of Fiscal Policy in Romania. The results of an empirical study based on a VAR type model," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(3), pages 1-68, Decembre.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:3:p:68
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    More about this item

    Keywords

    fiscal policy; governmental consumption; VAR; governmental debt.;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General

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