1. bookVolume 2 (2020): Issue 1 (December 2020)
Journal Details
License
Format
Journal
First Published
20 Oct 2019
Publication timeframe
1 time per year
Languages
English
access type Open Access

Study on the effect of crises on economic correlations and macrostability

Published Online: 31 May 2021
Page range: 14 - 30
Journal Details
License
Format
Journal
First Published
20 Oct 2019
Publication timeframe
1 time per year
Languages
English
Abstract

Economic growth is a goal of every country and equally of the European Community. In this sense, all national strategies related and not subordinated to the European Union’s strategy aim at economic growth, which will ensure the improvement of the quality of life. Economic growth is always achieved by the level registered by the Gross Domestic Product (Gross Domestic Product per capita) these being the most important indicators of results calculated at macroeconomic level.

The proper functioning of a country’s economy must be based, first of all, on certain correlations that are established between socio-economic variables, a context in which there must be certain proportions. The evolution of the economy in free market conditions reaches imbalances at certain times, a context in which macroeconomic stability is affected. Most often, crises, regardless of their health, economic, economic or financial nature, have the first effect of affecting macroeconomic stability. In the current conditions, when we face the health crisis, combined with the economic and financial crisis, the macroeconomic imbalance is obvious by not respecting some proportions and correlations, which must be established at the macroeconomic level. The analysis of this aspect of crises and their effect on economic correlations and macrostability is the subject of the study in this article.

Keywords

JEL Classification

Anghel M.G., Anghelache C., & Mirea M. (2018). The main aspects of the development of the Gross Domestic Product in the supercentralized period. Romanian Statistical Review, Supplement, 12, 157-165.Search in Google Scholar

Anghelache C. (2019). The evolution of the industrial activity in Romania in 2019 in the internal and international context. Romanian Statistical Review, Supplement, 8, 49-60.Search in Google Scholar

Anghelache C., Marinescu R.T., & Samson T. (2019). Aspects of the Eurostat methodology for estimating discrepancies in international trade statistics. Romanian Statistical Review, Supplement, 3, 123-132.Search in Google Scholar

Anghelache, C., Anghel, M.G., Căpuşneanu, S., & Topor, D.I. (2019). Econometric model used for GDP correlation analysis and economic aggregates. Economic Computation and Economic Cybernetics Studies and Research, 53(1), 183-197.Search in Google Scholar

Anghelache C., Samson T., & Stoica R. (2019). European Union policies on rural development of agriculture and industry, Romanian Statistical Review Supplement, 1, 176-187.Search in Google Scholar

Anghel M.G., & Anghelache C. (2019). The effect of the balance of external payments on the economic growth, Romanian Statistical Review Supplement, 3, 172-182.Search in Google Scholar

Bhandari, P., & Frankel, J. (2015). Nominal GDP Targeting for Developing Countries, National Bureau of Economic Research, Working Paper 20898, Cambridge.Search in Google Scholar

Clark, T., & Ravazzolo, F. (2015). Macroeconomic Forecasting Performance under Alternative Specifications of Time-Varying Volatility. Journal of Applied Econometrics, 30 (4), 551-575.Search in Google Scholar

Chamberlin, G. (2011). Gross domestic product, real income and economic welfare, Economic & Labour Market Review, 5(5), 5-25.Search in Google Scholar

Garin, J., Lester, R., & Sims, E. (2016). On the Desirability of Nominal GDP Targeting. Journal of Economic Dynamics and Control, 69, 21–44.Search in Google Scholar

Gheorghe M. (2012), Selectarea modului de măsurare a evoluţiei preţurilor folosind metoda indicilor, Revista Română de Statistică, Vol.2012, 8, 29-38, Bucureşti.Search in Google Scholar

Gikuang, J.C. ((2012) A simple way to deal with multicollinearity, Journal of Applied Statistics, 39(9), 1893-1909.Search in Google Scholar

Guner, N., Ventura, G., & Yi, X. (2008). Macroeconomic Implications of Size-Dependent Policies. Review of Economic Dynamics, 11(4), 721-744.Search in Google Scholar

Iacob Ş.V., & Dumbravă Ş.G. (2020), The analysis of the main aspects regarding the industrial activity in Romania, Romanian Statistical Review – Supplement, no. 3, 40-54.Search in Google Scholar

Lee, D, Shin, H., & Stulz, R. (2016). Why does capital no longer flow more to the industries with the best growth opportunities?. NBER Working Paper Series, no 22924.Search in Google Scholar

Macchiarelli, C. (2013). Similar GDP-inflation cycles. An application to CEE countries and the euro area. International Business and Finance, 27(1), 124-144.Search in Google Scholar

Woodford, M. (2010). Financial Intermediation and Macroeconomic Analysis. Journal of Economic Perspectives, 24(4), 21-44.Search in Google Scholar

Institutul Naţional de Statistică, Comunicat nr. 230 / 08 septembrie 2020.Search in Google Scholar

Recommended articles from Trend MD

Plan your remote conference with Sciendo