TITLE

Assessing Structural Convergence between Romanian Economy and Euro Area: A Bayesian Approach

AUTHOR(S)
ALUPOAIEI, Alexie; SĂNDICĂ, Ana-Maria
PUB. DATE
July 2013
SOURCE
International Journal of Academic Research in Accounting, Financ;Jul2013, Vol. 3 Issue 3, p372
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
In this paper we involved a study of structural convergence between Romanian and Euro Zone economies from the view point of synchronization in responses to shocks. For this purpose we called a Bayesian framework in which we estimated a time-varying parameters VAR model. For the identification of structural shocks we started from semi-structural VAR in which we incorporated the standard predictions of DSGE literature for a New-Keynesian model. For several purposes mentioned in the paper, we used two versions of data, replacing GDP and GDP deflator from a standard approach with consumption and its deflator. In this paper we were mainly interested for the response of interest variables to a monetary shock for policy purposes and in a second timeframe for the responses to other types of shocks.
ACCESSION #
91262722

 

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