Accès libre

The Effects of Government Expenditure on the Output: A Real Business Cycle Analysis for the Romanian Economy

À propos de cet article

Citez

Caraiani, P. (2007). An Analysis of the Fluctuations in the Romanian Economy using the Real Business Cycles Approach. Romanian Journal of Economic Forecasting, 4, 76-86. Search in Google Scholar

Carboni, O.A., & Medda, G. (2011). Government spending and growth in a neoclassical model. Mathematics and Financial Economics, 4, 269-285. https://doi.org/10.1007/S11579-011-0045-2 Search in Google Scholar

Christiano, L. J., Trabandt M., & Walentin K. (2011). Introducing financial frictions and unemployment into a small open economy model. Journal of Economic Dynamics and Control, 35, 1999–2041. Search in Google Scholar

Copaciu, M., Nalban, V., & Bulete, C. (2015). R.E.M. 2.0, An estimated DSGE model for Romania. https://www.dynare.org/wp-repo/dynarewp048.pdf Search in Google Scholar

Data base for the Romanian economy: https://ec.europa.eu/eurostat/databrowser/view/NAMQ_10_GDP__custom_5007304/default/table?lang=en Search in Google Scholar

Duarte, D., Galindo, H., & Montecinos, A. (2019). Leverage and capital utilization. The European Journal of Finance, 28, 801 - 824. https://doi.org/10.1080/1351847X.2021.1924215Search in Google Scholar

Evans, G.W. (1989). Output and unemployment dynamics in the United States: 1950–1985. Journal of Applied Econometrics, 4, 213-237. https://doi.org/10.1002/JAE.3950040302Search in Google Scholar

Fisher, J.D., & Peters, R.H. (2009). Using Stock Returns to Identify Government Spending Shocks. Macroeconomics: Monetary & Fiscal Policies eJournal. https://doi.org/10.1111/j.1468-0297.2010.02355.xSearch in Google Scholar

Galí, J., López-Salido, D., & Vallés, J. (2007.).Understanding the Effects of Government Spending on Consumption, Journal of the European Economic Association, 5, 1, 227–270, https://doi.org/10.1162/JEEA.2007.5.1.227Search in Google Scholar

Garlappi, L., & Song, Z. (2017). Capital utilization, market power, and the pricing of investment shocks. Journal of Financial Economics, 126, 447-470. https://doi.org/10.1016/J.JFINECO.2016.11.006Search in Google Scholar

Gecon Package for R: https://gecon.r-forge.r-project.org/Search in Google Scholar

Gecon.estimation library for R: https://gecon.r-forge.r-project.org/ext_estim.htmlSearch in Google Scholar

Greenwood, J., Hercowitz, Z., & Huffman, G.W. (1988). Investment, Capacity Utilization and the Real Business Cycle. The American Economic Review, 78, 402-417. Search in Google Scholar

Hansen, G.D. (1985). Indivisible Labor and the Business Cycle. Journal of Monetary Economics, 16, 309-327. https://doi.org/10.1016/0304-3932%2885%2990039-XSearch in Google Scholar

Keynes, J . M . (1936). The general theory of employment, interest and money. London :MacmillanSearch in Google Scholar

Kydland, F.E., & Prescott, E.C. (1982). Time to Build and Aggregate Fluctuations. Econometrica, 50, 1345-1370. https://doi.org/10.2307/1913386Search in Google Scholar

Long, J., & Plosser, C.I. (1983). Real Business Cycles. Journal of Political Economy, 91, 39 - 69. https://doi.org/10.1086/261128Search in Google Scholar

Lucas, R.E. (1976). Econometric policy evaluation: A critique. Carnegie-Rochester Conference Series on Public Policy, 1, 19-46. https://doi.org/10.1016/S0167-2231%2876%2980003-6Search in Google Scholar

Ravn, M.O., Schmitt-Grohé, S., & Uribe, M. (2007). Explaining the Effects of Government Spending Shocks on Consumption and the Real Exchange Rate. International Finance eJournal. https://doi.org/10.3386/W13328Search in Google Scholar

Sueppel, R. (2003). Comparing Economic Dynamics in the EU and CEE Accession Countries. European Central Bank Research Paper Series. https://doi.org/10.2139/ssrn.457535Search in Google Scholar

Vasilev, A. (2018). The Role of Energy in a Real Business Cycle Model with an Endogenous Capital Utilization Rate in a Government Sector: Lessons from Bulgaria (1999–2016). Central European Economic Journal, 5, 130 - 141. https://doi.org/10.1515/ceej-2018-0011 Search in Google Scholar