The analysis of macroeconomic correlations using model

Analiza corelaţiilor macroeconomice utilizând modelul “spiralei preţurilor”
The analysis of macroeconomic correlations using model "price spiral"

Author(s): Cornelia Tomescu Dumitrescu , Aniela Bălăcescu
Subject(s): Economy
Published by: Editura Eurostampa
Keywords: inflation; Gross Domestic Product of Romania; correlation coefficient

Summary/Abstract: In this paper an analysis of the correlation between the evolution of consumer prices, average earnings from wages and labour productivity in Romania in the period 1991 – 2007 is presented. The econometric pattern which it is proposed describes dependencies and interdependencies between prices and earnings. This is consistent with the economic theory, in fact with a model/pattern with multiple equations called "spiral of prices”. The study is based upon the official data published by the National Statistics Institute, with the specification that, in order to be expressed in a mutual measure unit, they have been converted in dollars, using the method used by the international financial organisms.

  • Issue Year: XV/2009
  • Issue No: 15
  • Page Range: 606-611
  • Page Count: 6
  • Language: English