Lucian-Liviu ALBU, Andrei ROUDOI
SCENARIOS OF ECONOMIC DEVELOPMENT IN ROMANIA - MEDIUM TO LONG-TERM FORECASTING MODELS
In order to obtain plausible scenarios of economic development in Romania up to 2010-2015 horizon, the authors use a mix of forecasting models, like "medium-term" ones and "long-run" models. In this respect three alternative models are used, a sustainability function model (for public debt and fiscal deficits), a simple econometric model based on a production function with FDI and exports included as inputs and a standard Cobb-Douglas model.
Key words: forecasting, sustainability function, production function, economic growth.
JEL Classification: C53, E23, E25, O4