SPURIOUS REGRESSION AND COINTEGRATION. NUMERICAL EXAMPLE: ROMANIA’S M2 MONEY DEMAND

Economic time series are, in their vast majority, integrated series so, their modelling procedure stumbles upon the problem of spurious regression. When existent, cointegration is the simplest way of eliminating the illogical correlation established between time series due to the presence of trends. The analysis of macroeconomic time series through cointegration is a common fact. Modelling the Romanian M2 money demand through cointegration and vector error correction led to somewhat significant results being a starting point for future, more complex research.spurious regression, cointegration, money demand, error correction mechanism.

Innovative digital learning

The new programming technologies allow for the creation of components which can be automatically or manually assembled to reach a new experience in knowledge understanding and mastering or in getting skills for a specific knowledge area. A Visual C# .NET implementation under development is discussed.learning component, user control, automatic assembly, adaptor

FDI And Economic Growth. Evidence From Simultaneous Equation Models

This paper analyses whether foreign direct investments have an impact on the Romanian economic growth. By means of simultaneous equation methods we obtained evidence of the bi-directional connection between the two, meaning that incoming FDI stimulates economic growth and, in its turn, a higher GDP attracts FDI. Two methods were used in performing the analysis, one considering the relation between the share of FDI in GDP and economic growth in a five-equation system and the second considering the levels of FDI and GDP, respectively, in a two-equation system.foreign direct investment, economic growth, simultaneous equation models

Predicting financial distress for Romanian companies

Using a moderately large number of financial ratios, we tried to build models for classifying the companies listed on the Bucharest Stock Exchange into low and high risk classes of financial distress. We considered four classification techniques: Support Vector Machines, Decision Trees, Bayesian logistic regression and Fisher linear classifier, out of which the first two proved to have the highest prediction accuracy. Classifiers were trained and tested on randomly drown samples and on four different databases built starting from the initial financial indicators. As the literature related to the topic on Romanian data is very scarce, our study, by using a variety of methods and combining feature selection and principal components analysis, brings a new approach to predicting financial distress for Romanian companies.

Customer segmentation in private banking sector using machine learning techniques

Machine learning techniques have proven good performance in classification matters of all kinds: medical diagnosis, character recognition, credit default and fraud prediction, and also foreign exchange market prognosis. Customer segmentation in private banking sector is an important step for profitable business development, enabling financial institutions to address their products and services to homogeneous classes of customers. This paper approaches two of the most popular machine learning techniques, Neural Networks and Support Vector Machines, and describes how each of these perform in a segmentation process. First published online: 23 Sep 201

Research and Science Today No.2

Research and Science Today Journal is a publication founded in 2011 and it is dedicated to the students of all levels (license, master and doctoral) of faculties in the country and abroad. We want to offer the participants the opportunity to present their scientific works in the following areas: Social Sciences, Economic Sciences, Legal Sciences, Humanities, Education Sciences, Engineering, Medicine and Sport. This journal provides students the opportunity to create and / or to improve their abilities to write scientific papers. So each appearance (two appearances per year at which we can add supplements) contains a number of papers written by students, masters and doctoral from the faculties from the country or / and abroad. The journal promotes original studies contributing to the progress of knowledge and it is motivated by the need to address issues of theory and practice in the areas mentioned above. The Journal is a training means of the factors involved in the conceptualization, development, implementation and evaluation , aiming the formation of creative personalities who could be able to adapt through the changing conditions of life. Journal wants to be a forum for debates disciplinaries and interdisciplinaries theoretical topics, to become a research support, to leverage this work at regional, national and international levels. We believe that this gathering will enjoy the support from both parts of the researchers and of the practitioners, and will provide appropriate training sources held professional through the current problems

Research and Science Today No.2

Research and Science Today Journal is a publication founded in 2011 and it is dedicated to the students of all levels (license, master and doctoral) of faculties in the country and abroad. We want to offer the participants the opportunity to present their scientific works in the following areas: Social Sciences, Economic Sciences, Legal Sciences, Humanities, Education Sciences, Engineering, Medicine and Sport. This journal provides students the opportunity to create and / or to improve their abilities to write scientific papers. So each appearance (two appearances per year at which we can add supplements) contains a number of papers written by students, masters and doctoral from the faculties from the country or / and abroad. The journal promotes original studies contributing to the progress of knowledge and it is motivated by the need to address issues of theory and practice in the areas mentioned above. The Journal is a training means of the factors involved in the conceptualization, development, implementation and evaluation , aiming the formation of creative personalities who could be able to adapt through the changing conditions of life. Journal wants to be a forum for debates disciplinaries and interdisciplinaries theoretical topics, to become a research support, to leverage this work at regional, national and international levels. We believe that this gathering will enjoy the support from both parts of the researchers and of the practitioners, and will provide appropriate training sources held professional through the current problems

Research and Science Today Supplement No.1(3)/2012

Research and Science Today Journal is a publication founded in 2011 and it is dedicated to the students of all levels (license, master and doctoral) of faculties in the country and abroad. We want to offer the participants the opportunity to present their scientific works in the following areas: Social Sciences, Economic Sciences, Legal Sciences, Humanities, Education Sciences, Engineering, Medicine and Sport. This journal provides students the opportunity to create and / or to improve their abilities to write scientific papers. So each appearance (two appearances per year at which we can add supplements) contains a number of papers written by students, masters and doctoral from the faculties from the country or / and abroad. The journal promotes original studies contributing to the progress of knowledge and it is motivated by the need to address issues of theory and practice in the areas mentioned above. The Journal is a training means of the factors involved in the conceptualization, development, implementation and evaluation , aiming the formation of creative personalities who could be able to adapt through the changing conditions of life. Journal wants to be a forum for debates disciplinaries and interdisciplinaries theoretical topics, to become a research support, to leverage this work at regional, national and international levels. We believe that this gathering will enjoy the support from both parts of the researchers and of the practitioners, and will provide appropriate training sources held professional through the current problems

Research and Science Today Supplement No.1(3)/2012

Research and Science Today Journal is a publication founded in 2011 and it is dedicated to the students of all levels (license, master and doctoral) of faculties in the country and abroad. We want to offer the participants the opportunity to present their scientific works in the following areas: Social Sciences, Economic Sciences, Legal Sciences, Humanities, Education Sciences, Engineering, Medicine and Sport. This journal provides students the opportunity to create and / or to improve their abilities to write scientific papers. So each appearance (two appearances per year at which we can add supplements) contains a number of papers written by students, masters and doctoral from the faculties from the country or / and abroad. The journal promotes original studies contributing to the progress of knowledge and it is motivated by the need to address issues of theory and practice in the areas mentioned above. The Journal is a training means of the factors involved in the conceptualization, development, implementation and evaluation , aiming the formation of creative personalities who could be able to adapt through the changing conditions of life. Journal wants to be a forum for debates disciplinaries and interdisciplinaries theoretical topics, to become a research support, to leverage this work at regional, national and international levels. We believe that this gathering will enjoy the support from both parts of the researchers and of the practitioners, and will provide appropriate training sources held professional through the current problems

Household money demand in Romania. Evidence from cointegrated VAR / Pinigų poreikio Rumunijos namų ūkiuose tyrimas naudojant kointegruotus autoregresinius vektorius

By the means of cointegrated VAR we investigated the money demand behaviour of households. Using the traditional determinants and adding variables specific for the sector we succeeded to obtain a relevant description of what influences individuals’ money holdings, gradually increasing the number of variables but also restricting on the irrelevant ones. Santrauka Autoriai, naudodami kointegruotus autoregresinius vektorius, tyrė pinigų poreikio pokyčius namų ūkiuose. Tyrimuose buvo naudojami tiek tradiciniai, tiek šiam sektoriui būdingi veiksniai. Nustatyti veiksniai, kurie turi didžiausią įtaką namų ūkiams, taip pat identifikuoti nereikšmingi. Reikšminiai žodžiai: kointegruoti autoregresiniai vektoriai, pinigų poreikis namu ūkiuose, atvirkštinė priklausomyb