<?xml version="1.0" encoding="UTF-8"?>
<rss xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:taxo="http://purl.org/rss/1.0/modules/taxonomy/" version="2.0">
  <channel>
    <title>EconStor Collection: Romanian Journal of Fiscal Policy</title>
    <link>http://hdl.handle.net/10419/59795</link>
    <description />
    <textInput>
      <title>The Collection's search engine</title>
      <description>Search the Channel</description>
      <name>search</name>
      <link>http://www.econstor.eu/simple-search</link>
    </textInput>
    <item>
      <title>How does economic crisis change the landscape of real convergence for Central and Eastern Europe?</title>
      <link>http://hdl.handle.net/10419/59809</link>
      <description>Title: How does economic crisis change the landscape of real convergence for Central and Eastern Europe?
&lt;br/&gt;
&lt;br/&gt;Authors: Alexe, Ileana
&lt;br/&gt;
&lt;br/&gt;Abstract: The paper aims at analyzing the impact of the recent economic crisis on the real convergence with the Euro area for ten countries from Central and Eastern Europe that joined the European Union in 2004 and 2007. We use 2000, 2008 and 2010 as benchmark years for our study and GDP per capita at PPP, as the most relevant indicator in terms of real convergence. The study is based on Euclidian distance analysis. The results reveal that most of the countries recorded higher distances from the Euro area average, while Poland and Slovakia improved their convergence.</description>
      <pubDate>Sat, 29 Oct 2011 22:58:59 GMT</pubDate>
    </item>
    <item>
      <title>Some considerations on the challenges to the economic science</title>
      <link>http://hdl.handle.net/10419/59808</link>
      <description>Title: Some considerations on the challenges to the economic science
&lt;br/&gt;
&lt;br/&gt;Authors: Doroftei, Irina Mădălina
&lt;br/&gt;
&lt;br/&gt;Abstract: The recent crisis of 2008 has revealed several challenges for the economic science, sparking a considerable amount of debate regarding the profession of economists and the role of macroeconomics and monetary policies. The first question that arose was why there was a lack of anticipation of the crisis (especially from the mainstream economists) and, secondly, how could policy makers fix the economy after the crash of the markets. The metaphor economics as a machine is a good reflection of how people think of the economy and economists today, although the author of this paper, among many other researchers, believes otherwise. Therefore, this paper gives preliminary answers to the questions above and describes today's challenges to macroeconomic models and to monetary policy frameworks in particular, in terms of methodology.</description>
      <pubDate>Sat, 29 Oct 2011 22:58:59 GMT</pubDate>
    </item>
    <item>
      <title>How did we get to the deficit spectrum of the economic crisis?</title>
      <link>http://hdl.handle.net/10419/59807</link>
      <description>Title: How did we get to the deficit spectrum of the economic crisis?
&lt;br/&gt;
&lt;br/&gt;Authors: Bodislav, Alexandru
&lt;br/&gt;
&lt;br/&gt;Abstract: The economies of developed countries of the 21st century benefit from the unseen-till-now prosperity; life standard that suffered a hard landing starting with 2007 and that seems to evolve in a chain-saw model for the crisis development. The forecast is based on the first in, last out principle; first in the US, last out the emergent countries that are under the contagion process and under inefficient governance and which started as a subprime crisis and continues as a deficit crisis. These nations produced one of the highest life standards in history. How was this possible? It is believed that the origin of this prosperity (before and after the crisis) is in the development of an economic system that embraces the free enterprise, capitalism and competition because prosperity represents is the crossroad between the self interests of many. This research paper tries to underline the factors that led to the actual development of the crisis; from the bankruptcy of Lehman Brothers to the unstable and not well directed actions of governments around the world and to these first tier layers there are added the second tier layers that include the political vantage point that influences the paths that are followed for limiting the negative aspects of the economic crisis and to improve new opportunities that appear as a result of openness and collaboration. The muddling through principle was adopted by the Obama Administration and this fact is one of the main factors that ease the deployment of near future economic improvement for the United States, but for the long run this isn't a solution to develop a healthy economy and create sustainable economic growth.</description>
      <pubDate>Sat, 29 Oct 2011 22:58:59 GMT</pubDate>
    </item>
    <item>
      <title>How to assess public debt sustainability: Empirical evidence for the advanced European countries</title>
      <link>http://hdl.handle.net/10419/59806</link>
      <description>Title: How to assess public debt sustainability: Empirical evidence for the advanced European countries
&lt;br/&gt;
&lt;br/&gt;Authors: Curtaşu, Anca Ruxandra
&lt;br/&gt;
&lt;br/&gt;Abstract: In the context of a society with limited resources, borrowing seems to be a desirable method that allows governments to finance the required expenditures. But government borrowing is accepted as long as it is consistent with a sound fiscal policy. Since 1923, when the concept of sound finance was brought into discussion for the first time, by J. M. Keynes, many economists have tried to investigate the issue of public debt sustainability. The hereby paper is designed to be an introductory guide in the theory and practice of fiscal sustainability. In this sense, I tried to make a compelling analysis of the evolution of the public debt among the advanced European economies. I have chosen these countries considering that European Union fiscal sustainability is still a much debated and controversial topic and that unsound fiscal policies of individual members could have adverse effects and harm other members' economies. For the purpose of this study I used annual data, spanned mostly on 1970-2012. The variables for each country have been analyzed through various methods of investigation: unit-root tests, cointegration tests and fiscal reaction function tests. The aim of this paper is therefore to investigate the evolution of the public debt and to establish how governments react to this evolution.</description>
      <pubDate>Fri, 29 Oct 2010 22:58:59 GMT</pubDate>
    </item>
  </channel>
</rss>

