Theoretical and Applied Economics
No. 2 / 2020 (623), Summer
Examining the drivers of business cycle divergence between Euro Area and Romania
Bucharest University of Economic Studies, Romania
Abstract. This research aims to provide an explanatory analyses of the business cycles divergence between Euro Area and Romania, respectively its drivers, since the synchronisation of output-gaps is one of the most important topic in the context of a potential EMU accession. According to the estimates, output-gaps synchronisation entered on a downward path in the subperiod 2010-2017, compared to 2002-2009. The paper demonstrates there is a negative relationship between business cycles divergence and three factors (economic structure convergence, wage structure convergence and economic openness), but also a positive relationship between it and its autoregressive term, respectively the GDP per capita convergence.
Keywords: output-gap, business cycles, divergence, Euro Area, Romania.
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Contents
- Mathematical model used
in substantiating optimal contract
Constantin ANGHELACHE
Dumitru MARIN
Dana Luiza GRIGORESCU
- Migration, economic causes and decisions
Mircea Constantin ȘCHEAU
Ștefan Zaharie POP
Andreea Valentina ȘOIMU
- The voluntary pension funds – a viable solution to supplement
the pensioners' incomes
Mădălina-Gabriela ANGHEL
Dragoș Alexandru HAȘEGAN
- An approach to measuring credit risk
in a banking institution from Romania
Nora CHIRIȚĂ
Ionuț NICA
- Study on the evolution of tourism and perspectives
Ștefan Virgil IACOB
- Investigating personnel dynamics within SMEs:
A survey analysis for the case of Romania
Mădălina Ecaterina POPESCU
Larisa STĂNILĂ
Maria Denisa VASILESCU
- Banking sector and bank liquidity –
key actors within financial crises?
Dan Costin NIŢESCU
Florin Alexandru DUNĂ
Adriana Daniela CIUREL
- Existence of rewards for a sustainable enterprise
in the context of the human resources strategy
Constantin Ciprian IACOB
Nicolae MOROIANU
- Do export, financial development, and institutions
affect FDI outflows?
Insights from Asian developing countries
Pragyanrani BEHERA
Prajukta TRIPATHY
Bikash Ranjan MISHRA
- Are resources a curse or blessings?
Evidence from panel ARDL model
Shakti Mohan TANDI
Prajna Paramita MISHRA
- Tax structure and economic growth
in general category states in India:
A panel auto regressive distributed lag approach
Dillip Kumar MUDULI
Nityasundar MANIK
- Banking Sector Reforms and the Goals
of Nationalised Commercial Banks in India
Kubendran NARAYANASAMY
- Determinants of economic growth in India:
A time series perspective
Manoj Kumar DAS
Titiksha DAS
- Impact of credit guarantee on the output gap:
A panel data analysis of Asian sovereigns
Mohammad MUSTAFA
- Analyzing the robustness of ARIMA and neural networks
as a predictive model of crude oil prices
Sudhi SHARMA
Miklesh YADAV
- Does the agriculture value-added contribute
to the economic growth in 30 African countries?
Salah Eddine SARI HASSOUN
Abdelkader SAHED
Khayereddine Salim ADDA
Asma Hadjira SEBBANE
