Published by Bucharest University of Economic Studies

Online ISSN: 1842-3264


Print ISSN: 0424-267X


Mathematical models in demography
  • Article

February 1976


41 Reads

Vl. Trebici
Romanian demography has greatly developed in the last few years; many number of studies approach the application of the mathematical methods and models, the extension of the sphere of cybernetic and systematic interpetation of demographic phenomena. The most conclusive domains for applications are: mortality, nuptiality, fertility, urbanization and the territorial distribution of the population, the relationship between population and economy. Besides the classical mathematical models, such as the tables with simple and multiple decrement and the biometric functions, factorial models of demo-economic zoning have been elaborated and applied in the analysis, models of urban ″attraction″ , demo-economic models based on social accounting etc.

A model of hierarchical internal migration
  • Article
  • Full-text available

February 1979


21 Reads

Most nations of the world are subdivided into smaller political units- counties, departments, states, provinces, etc. Often, these geographic units are aggregated to form regions. No explicit rules, in general, are employed to devise these groups. The author, however, has developed a systematic procedure for regionalization which utilizes internal migration data. Regions found by this method have relatively large internal and relatively small external population movements. They form functional groups of counties, departments, etc.

Table 2
The Application of the Econometric Models with Qualitative Variables in the Analysis of the Non Academic Behaviors at the Level of the Romanian Higher Education System

January 2007


83 Reads

The purpose of this paper was to apply the econometric models with qualitative variables in order to analyze two non academic behaviors at the level of the Romanian higher education system: cheating on the exams by copying or by direct or intermediary intervention at the professor.

Empirical Evidencies for the Budget Deficits Co-Integration in the Old European Union Members: Are there any Interlinkages in Fiscal Policies?

February 2009


35 Reads

In the last years, the fiscal harmonization among the European Union members has become a pillar of economic integration and of fiscal and financial stability in the European area. The institutional changes, the semi-failure of the “old” Stability and Growth Pact as well as the recent waves of enlargements all these were put a greater emphasis on this issue inducing a higher pressure for fiscal discipline. In this context, the objective of the paper is to examines recent empirical evidences for bilateral and multilateral integration between fiscal policies, as this are synthesised by budget deficits, of old European Union members in the framework of the Johansen co-integration procedure with a preliminary appliance of the principal component analysis. The study finds that the dynamic of European fiscal policies takes place under the impact of some common driving forces which leads to a differentiate behaviour of two sub regional-groups individualized by the budget deficit series evolutionary patterns. Overall, it concludes that there could be find empirical evidences to support the thesis that a process of fiscal integration is currently running at least at the level of old European Union countries.

Table 3 . Model for the analysis of corruption 
Econometric Models Used for the Corruption Analysis

July 2009


1,283 Reads

The article conveys a series of features of the public administration by using some econometric models. In order to estimate the parameters, we used a series of data registered from a illustrative sample of civil servants. With the aim of analysing the corruption, there are used various regression and simultaneous equation models. The corruption level is analysed depending on a series of factors such as the political system pressure, the administration transparency, the quality of the civil servants’ job-related relationships

Table 1 
Major Trends in the Development of the Marketing Information System

January 2008


90 Reads

Marketing data base is a very useful instrument through whitch you can use the marketing information from the internal system of the firm and any other information from the outside environment in order to reach the marketing objectives and functions. The development of a modern marketing information system using the systems of the unique data bases offer the possibility of stocking and using of an incredible volume of marketing information of numerical nature, text, graphic, sounds, voice and video images, simple and easy to access through automatic procedures delivered by the host systems of data bases administration (SGBD), locally or at distance.

Table 1. The classification and frequency of provision types recognized under IAS 37. 
Table 4. The distribution of PLR scores grouped by national accounting culture, with an analysis of outliers. 
National Accounting Culture and Empirical Evidence on the Application of Conservatism

October 2010


465 Reads

Prudence in accounting is a corner-stone concept which has shaped accounting theory, as well as ordinary financial reporting, sometimes in obscure and perverse ways. The qualitative nature of our contribution is apparent in the critical analysis of the degree of conservatism as a fundamental attribute of any national accounting culture. We classified the 17 European countries in our sample in three groups according to how domestic standards recognize and measure provisions for risks and charges, in comparison with IFRS. Thus, the companies in our sample belong to the following accounting environments: IFRS-compliant (147 firms), conservative (179) and liberal (62). On the quantitative side of the study, we developed a proxy for accounting conservatism, namely the degree of uncertainty associated with the settling of a company’s obligations. To this purpose, we hand-collected accounting data for 388 business groups from 17 European countries. The companies are representative for the main industrial and consumer sectors, excluding financial institutions. For these companies we computed the provisions-to-liabilities ratio (PLR) and performed several group tests, according to the following original classification of national accounting cultures. The results indicate that companies incorporated in countries that are classified as ‘conservative’ do assign a significantly higher degree of uncertainty to their total amount of liabilities. If we take into account that all the companies in our sample prepare their annual accounts in compliance with IFRS, we can conclude that national accounting culture – when classified as prudent – exhibits a significant influence on the IFRS policies that companies apply with regard to the recognition and measurement of provisions.

Further evidence on defence spending and economic growth in NATO countries

January 2011


55 Reads

The main purpose of this paper is to analyze the causal relationships between defence spending and economic growth using the Toda–Yamamoto approach to Granger causality test in the case of selected NATO countries for the period of 1949-2006. NATO countries spend biggest proportion of defence spending in the world. Granger causality test on defence-growth issue employed by number of scholars but this paper is firstly used Toda–Yamamoto approach to granger causality to analyze relationship between defence spending and growth. The results show that unidirectional causality exists in seven NATO countries while for five countries no causal relationships were found. On the other hand, Turkey differs from other countries in that the relationship is bilateral.


January 1978


6 Reads

In this paper the general approach of the W. Leontief production function is described. Based on the input-output-system a multi-part, multi-stage, multiproduct function is derived under real conditions of industrial job-shops. This attempt implies especially movements of material stocks, production losses and distinct types of output-programs. (Programs of products, stored goods, merchandise, work in process, spare parts, in-plant performance). Finally, the structure of multidimensional hyperplanes of costs is characterized.

Forecasting real house price of the U.S.: An analysis covering 1890 to 2012

January 2015


42 Reads

This paper evaluates the ability of Bayesian shrinkage-based dynamic predictive regression models estimated with hierarchical priors (Adaptive Jefferys, Adaptive Student-t, Lasso, Fussed Lasso and Elastic Net priors) and nonhierarchical priors (Gaussian, Lasso-Lars, Lasso-Landweber) in forecasting the U.S. real house price growth. We also compare results with forecasts from bivariate OLS regressions and principal component regression. We use annual dataset on 10 macroeconomic predictors spanning the period 1890 to 2012. Using an out-of-sample period of 1917 to 2012, our results based on MSE and McCracken (2007) MSE-F statistic, indicate that in general, the non-hierarchical Bayesian shrinkage estimators perform better than their hierarchical counterparts as well as the least square estimators. The Bayesian shrinkage estimated with Lasso-Landweber is the best-suited model for forecasting the U.S. real house price. Among the least square models, the individual regression with house price regressed on the fiscal policy variable outperforms the rest. Also results from Lasso-Landweber portray the fiscal policy variable as the best predictor of the U.S. house prices especially in the recent times while the short-term interest rate and real construction cost also did well at the beginning and middle of the sample.

Descriptive statistics for the dependent variables and main predictors
Regression estimates of Equation (4)
The Influence of ESG Factors on Financial Performance in the Banking Sector during the Covid-19 Pandemic

December 2022


1,528 Reads

Environmental performance, social responsibility, and corporate governance quality are aspects of ESG performance. This study examines the influence of ESG performance on the financial performance of 333 banks located in 53 countries in Europe, America, and Asia, before and during the Covid-19 pandemic (2019-2021). Our model design allows us to establish causality relationships. The main factors and financial data are collected from the Refinitiv database. The findings indicate that the bank environmental performance in 2019 has a negative influence on the return on equity during 2020, and that no other ESG factors are significant. Social responsibility expenditures and initiatives in 2020 positively influenced bank profitability in 2021. Furthermore, East Asian banks have higher stock market returns and earnings per share determined by the quality of corporate governance in the previous year. The environmental performance of 2020 has a negative influence on earnings per share in 2021, but only for the sample in East Asia. Implications for the banking sector and investors are proposed.

The Impact of the Covid-19 Pandemic on Consumers’ Online Shopping Behaviour – An Empirical Model

March 2022


5,330 Reads

The goal of this study is to examine how the COVID-19 pandemic has affected people’s internet buying habits. The research introduces a model which includes perceived benefits, attitude, and loyalty to investigate their impact on consumers’ intentions to continue using online shopping. Targeting internet shoppers, an online survey was used, with a sample of 338 respondents. The research model’s theorized relationships were tested using exploratory and confirmatory factor analyses, structural equation modelling, and a mediation analysis. All the proposed hypotheses were supported. Consequently, the results contribute to the understanding of online consumer behaviour, offering a new framework for establishing practical marketing strategies.

Entry Level Employees’ Perception of the Work Environment During and After the COVID-19 Pandemic
  • New
  • Article

September 2023


14 Reads

Global Trends and Characteristics of the Publications in Economic Computation and Economic Cybernetics Studies and Research from 1969 to 2020 Based on Bibliometric Analysis

December 2020


304 Reads

The Economic Computation and Economic Cybernetics Studies and Research is an important international journal in the field of economics. It was founded in 1966, and retrieved by the Inspec (Information Service in Physics, Electro-Technology, Computer and Control) database and the Core Collection database of Web of Science in 1969 and 2007, respectively. Since 1969, there are altogether 1615 articles in the journal collected by the Inspec database and Core Collection database of Web of Science. This study uses bibliometric methods to analyze these articles from two perspectives: academic structure and relevance analysis. A detailed study of the publication and citation structures, keywords of articles, research topics, and international co-authorship analysis was conducted. Finally, some suggestions are put forward to the editors and authors of this journal. © 2020, Bucharest University of Economic Studies. All rights reserved.

Energy savings effect measurement of energy policies from 1999 to 2004 in Jiangsu Province

January 2015


21 Reads

An improved GM(1,1) model is presented to measure energy savings effect of energy policies from 1999 to 2004 in Jiangsu province. The improved GM(1,1) can take full advantage of new information in sequence of raw data for a small sample size prediction. The predicted energy intensities are derived from the prediction of applying the improved GM(1,1) model. And the energy savings are obtained from the differences of predicted energy consumption and actual energy consumption from 1999 to 2004. From the results we can find that in the beginning of implemented energy policies the energy consumption grows slowly and energy savings effects are obvious. However, the actual energy consumption has exceeded the predicted energy consumption in terms of results in this paper in 2004. This phenomenon represents that the energy policies has reached the best effects and some new energy savings policies should be formulated to keep both economic growth and energy savings sustainable. Our analysis in this paper is consistent with the decision-making of Chinese government. In the end of 2004 the “medium and long term specific schema on energy savings” is formulated and some other energy savings measures have been formulated to achieve the goal in the specific schema from 2004.

Figure 2: Correlation between GVA and civilian EP on economic industries in Romania, in 2000-2015 period Source: Developed by authors, after processing data from, accessed January 2017 
Figure 4: GVA dynamics on industries of the Romanian national economy, 2001-2015 vs. 2000 Source: Developed by authors, after processing data from, accessed January 2017 
Figure 5:Productivity dynamics of industries of the Romanian national economy, 2001-2015 vs. 2000 Source: Developed by authors, after processing data from, accessed January 2017 
Sustainable Economic Development, Economic Equilibrium and Work Productivity on Industries of the Romanian National Economy, 2000-2015

March 2018


269 Reads

In this paper we aimed to take a methodological look at the interdependence between economic results and employed population, as there have been a series of structural changes and serious imbalances related to work productivity across the four industries of the national economy over the last two decades. Following the economic development theories, we tested three hypotheses about economic equilibrium based both on work productivity across the national economy and also on work productivity in each of the four industries as presented in the National Classification of Economic Activities in Romania (CAEN, Rev. 2), with official data of the period 2000-2015. Our findings highlight a series of forms of interdependency across the four industries of the national economy as well as some potential economic sustainability vulnerabilities of the Romanian primary sector, thus forming a solid reasoning for future sustainable economic development.

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