BARS curve in Romanian economy
Author:Emilian Dobrescu
JEL:C32, E62, H60
DOI:
Keywords:public budget, global output, BARS curve
Abstract:
The paper is consacrated to the binomial “public budget-global output” from the BARS
curve perspective. The first section characterizes the main conceptual premises of this
approach. The second is devoted to empirical analysis, using the statistical data (1990-
2013) for Romania, an European emergent economy: three cointegrating regressions (fully
modified least squares, canonical cointegrating regression and dynamic least squares) and
three algorithms based on instrumental variables (two-stage least squares, generalized
method of moments, and limited information maximum likelihood) are used. Some
conclusions are presented.