ECTAP
 
HomeDespre ECTAEventsPolitica editorialaTrimite un articolParteneri / link-uri utileArchiveAbonamentContact
 

ISSN 1841-8678   (print)
ISSN 1844-0029   (online)

News

Archive ECTAP

Note: for the period 1994-2003 the archive of the magazine will not be available online

Supplements ECTAP

If you cannot open the pdf file you need Adobe Reader.
download Adobe Reader

Creative Commons License

Theoretical and Applied Economics
No. 1 / 2011 (554)

Re-modeling the Romanian Fiscal Policy under the Terms of the Economic Crisis

Aura Gabriela SOCOL
Bucharest Academy of Economic Studies
Dorin MĂNTESCU
Bucharest Academy of Economic Studies

Abstract. This paper brings arguments for the necessity to re-think the modality to analize and interpret the Romanian fiscal policy, under the terms of the future adheration to the Euro Zone. Under these terms, this study estimates the structural budget deficit, considering this indicator as one of the most relevant for assessing the performance of the fiscal management, and also the extent to which the Romanian fiscal policy is prepared to act as a sole instrument which can stabilize the national economy after entering the Euro Zone. The work is structured as it follows: (i) estimate for the potential GDP and for the output gap by means of the production function method and by the use of the Hodrick- Prescott filter; (ii) estimate for the cyclic budget component, based on the deficit sensitivity (using the elasticities of the government revenues and purchases related to the GDP) and on the value of the output gap and, subsequently, of the structural budget component. Finally, the work mentions a series of conclusions and recommendations regarding the methodological re-construction of the assessment for the fiscal policy’s efficiency.

Keywords: structural budget balance; output gap; fiscal policy.

Download the full article:  

Contents

The Circularity of Ideologies
Marin Dinu

Open acces

ECTAP

Search

BOOKS

The Economicity. The Epistemic Landscape, Marin Dinu, 2016

Partners


ISSN 1841-8678 (ediția print) / ISSN 1844-0029 (ediția online)
© Copyright Asociația Generală a Economiștilor din România (AGER) / General Association of Economists From Romania  (GAER)
Redacția: 010702, București, Calea Griviței nr. 21, sector 1, E-mail: economia.ta@edeconomica.com

© 2006-2019 AGER