ASSESSMENTS AND CONTROVERSIES ON THE ROLE OF THE INTERNATIONAL FINANCIAL INSTITUTIONS – IFIS - WITHIN A GLOBALIZED MARKET

The world economy registered within the last decades a series of transformations which had as a result astounding economic growth, yet also violent crises, a maturing of the international cooperation with positive effects, yet also negative aspects as a cinternational financial institutions, multilateral development institutions, globalization, international capital flows

Arguments in the debate austerity versus growth in Romania

The fiscal policy response to the consequences of the financial and economic crisis consisted either in adopting expansionary policies to stimulate the aggregate demand, or in promoting fiscal consolidation programs designed to restore the sustainability of the public finances. This paper examines the options of the Romanian authorities regarding the fiscal policy decisions in the immediate aftermath of the crisis, and subsequently as the fiscal consolidation program initiated in 2010 has advanced. The paper concludes that the advantages and disadvantages of both approaches cannot be analyzed without taking into account the short-term constraints and the solution adopted by the policymakers, namely to realize the fiscal adjustment was inevitable

THE CORRELATION BETWEEN UNEMPOYMENT AND REAL GDP GROWTH.A STUDY CASE ON ROMANIA

A sustainable rate of real GDP growth is one of the best ways to promote the rise of living standards. From a neoclassical point of view the underlying factors that affect economic growth are saving, population growth and technological progress. UnemploymEconomic growth, Natural rate of unemployment, Okuns's law

Deep recommender engine based on efficient product embeddings neural pipeline

Predictive analytics systems are currently one of the most important areas of research and development within the Artificial Intelligence domain and particularly in Machine Learning. One of the "holy grails" of predictive analytics is the research and development of the "perfect" recommendation system. In our paper, we propose an advanced pipeline model for the multi-task objective of determining product complementarity, similarity and sales prediction using deep neural models applied to big-data sequential transaction systems. Our highly parallelized hybrid model pipeline consists of both unsupervised and supervised models, used for the objectives of generating semantic product embeddings and predicting sales, respectively. Our experimentation and benchmarking processes have been done using pharma industry retail real-life transactional Big-Data streams.Comment: 2018 17th RoEduNet Conference: Networking in Education and Research (RoEduNet

Effects of the COVID-19 pandemic on clinical manifestations and therapeutic outcomes in acute endophthalmitis

Endophthalmitis incidence and clinical characteristics was reported to change during Covid-19 pandemic, due to multiple influencing factors, such as prolonged lockdown periods, persistent immune suppression following Sars-Cov-2 infection, and mask wearing. We conducted a retrospective eight-year study, during January 2016 and December 2023, that aims to investigates the differences in terms of etiology, clinical characteristics and outcomes in cases with acute endophthalmitis, admitted before (2016-2019) and during Covid-19 pandemic (2020-2023). The two study subgroups were homogenous in term of age, gender distribution, associated comorbidities, and addressability. During Covid-19 pandemic there were significant delays in presentation (p=0.02), more cases of endogenous endophthalmitis (p=0.025), and patients presented a more intense systemic inflammatory reaction (

The Public Debt in Romania – Factors of Influence, Scenarios for the Future and a Sustainability Analysis Considering both a Finite and Infinite Time Horizon

AbstractThis paper, starting from the public debt equations and the intertemporal budget constraint proposes an analysis of the evolution of public debt to GDP ratio in Romania during the 2002-2013 periods, identifying the main factors of influence and also performs a sustainability analysis on both a finite and infinite time horizon. Thus, the paper determines the gap to the level of primary balance consistent with debt sustainability under different scenarios and concludes that the current level of public indebtedness, alongside with the long term projections of the underlying factors of influence ensure the fulfillment of the obligations to the creditors

ASSESSMENTS AND CONTROVERSIES ON THE ROLE OF THE INTERNATIONAL FINANCIAL INSTITUTIONS – IFIS - WITHIN A GLOBALIZED MARKET

The world economy registered within the last decades a series of transformations which had as a result astounding economic growth, yet also violent crises, a maturing of the international cooperation with positive effects, yet also negative aspects as a

The Estimation of the Equilibrium Real Exchange Rate for Romania

This paper aims to estimate the equilibrium real exchange rate for Romania, respectively the real exchange rate consistent with the macroeconomic balance, which is achieved when the economy is operating at full employment and low inflation (internal balance) and has a current account that is sustainable (external balance). This equilibrium real exchange rate is very important for an economy because deviations of the real exchange rate from its equilibrium value can affect the competitiveness of a country. An overvalued real exchange rate will determine a lack of external competitiveness and deteriorate the country’s real activity. An undervalued exchange rate will increase on short term exports and it will lower the current account deficit but, on the long term it will increase the inflationary pressures. The equilibrium real exchange rate is also a very important variable for a country who wishes to join ERM II. In fact the central parity should be chosen to reflect the equilibrium exchange rate. The conclusion is that the real exchange rate had some important deviations from its equilibrium value which were determined by the liberalization of the prices and of the foreign exchange market and by the fluctuations of the nominal exchange rate. These deviations are not likely to put at risk the entry in ERM II.Equilibrium real exchange rate, productivity differential, nominal convergence

Assessing the Sustainability of Inflation Targeting: Evidence from EU Countries with Non-EURO Currencies

This paper examines the impact of inflation targeting (IT) adoption on macroeconomic outcomes (unemployment, inflation, exchange rate, and its volatility) and banking concentration by comparing the non-EUR European countries that adopt an IT strategy to non-EUR European countries that do not adopt an IT strategy for the period of 2005–2015. The results suggest that IT has no impact on inflation, unemployment, and the exchange rate raises the systemic risk. Moreover, in non-IT countries, central banks are more concerned to minimizing the exchange rate volatility to better protect the debtors with foreign currency (EURO) loans