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Dynamic Global Economic Models

Author

Listed:
  • Epure Dãnuþ Tiberius

    () (“Ovidius” University of Constanta, Faculty of Economic Sciences)

  • Orac Mãdãlina

    (“Dunãrea de Jos” University of Galaþi)

  • Teliceanu Claudiu

    (“Dunãrea de Jos” University of Galaþi)

Abstract

This paper highlights the historical trajectory of the global economic forecasting models of type GEM (Global Economic Model) and a comparative analysis of advantages and limitations offered by each model. The GEM 2004 is based on the correlation that exists between the academic scientific research and the existing economic policy models, which after its application, resulted that real GDP in the euro area will increase as a result of higher capital stock and number of hours worked. Consumption will increase as a result of increased investment and depreciation of the euro, while investments will be influenced by the economic reforms implemented. The GEM 2007 is a multiregional model covering the global economy that allows the analysis of the bilateral trade flows and the relative prices for each region.

Suggested Citation

  • Epure Dãnuþ Tiberius & Orac Mãdãlina & Teliceanu Claudiu, 2011. "Dynamic Global Economic Models," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 423-426, May.
  • Handle: RePEc:ovi:oviste:v:xi:y:2011:i:9:p:423-426
    as

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    File URL: http://stec.univ-ovidius.ro/html/anale/RO/cuprins%20rezumate/volum2011p2.pdf
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    References listed on IDEAS

    as
    1. Grigorescu, Adriana, 2009. "Renewal marketing management in public and business organizations," MPRA Paper 25128, University Library of Munich, Germany.
    2. Nicolae Al. Pop & Anca-Daniela Vl?doi, 2009. "The marketer-a complex specialist, a man of concept, decision and action," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 11(25), pages 9-20, February.
    3. Kaplan, Andreas M. & Haenlein, Michael, 2009. "The increasing importance of public marketing: Explanations, applications and limits of marketing within public administration," European Management Journal, Elsevier, vol. 27(3), pages 197-212, June.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    evolution of the work; government consumption; government investment; public procurement; GDP growth.;

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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