Alternative methods to measuring the Romanian economy’s business cycle
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338.12(498) (1)
Situație economică. Ciclu economic. Dezvoltarea structurii economice. Creștere (279)
SM ISO690:2012
RADU, Ștefan-Constantin. Alternative methods to measuring the Romanian economy’s business cycle. In: Creşterea economică în condiţiile globalizării, Ed. 16, 12-13 octombrie 2022, Chișinău. Chisinau, Moldova: INCE, 2022, Ediția 16, Vol.2, pp. 213-221. ISBN 978-9975-3583-9-2. DOI: https://doi.org/10.36004/nier.cecg.III.2022.16.17
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Creşterea economică în condiţiile globalizării
Ediția 16, Vol.2, 2022
Conferința "Creşterea economică în condiţiile globalizării"
16, Chișinău, Moldova, 12-13 octombrie 2022

Alternative methods to measuring the Romanian economy’s business cycle

DOI:https://doi.org/10.36004/nier.cecg.III.2022.16.17
CZU: 338.12(498)
JEL: E32

Pag. 213-221

Radu Ștefan-Constantin
 
School of Advanced Studies of the Romanian Academy
 
 
Disponibil în IBN: 28 decembrie 2022


Rezumat

the following paper we will present a series of mathematical models that have the scope of approximating the business cycle of the Romanian economy for the period between 1995 and 2022 by using quarterly data of the Gross Domestic Product. The main findings of the paper suggest the use of three different methods for approximating the business cycle, with very interesting and varied results. The accuracy of the approximation of the proposed methods is compared to the traditional method of using the Hodrick-Prescott filter. The originality of the paper lays in applying different methods of calculating the business cycle and comparing their effectiveness for the case of the Romanian economy. In this case we observe that when comparing the methods for the Romanian economy, the alternatives to the Hodrick-Prescott filter are viable and useful.

Cuvinte-cheie
business cycle, Romanian economy, Hodrick-Prescott filter, European Union integration.

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