Robust Monetary Policy

While there is uncertainty about the data that enter into economic models and about the parameters that govern economic models, the fact that economists often approach macroeconomic data armed with different models of the economy suggests that uncertainty, or ambiguity, about the model could also be potentially important. A policy can be made “robust” to model uncertainty by designing it to perform well on average across all of the available fully specified models rather than to reign supreme in any particular model. In this paper we compare the implications of robust monetary policy versus non robust monetary policy for a model based on a new Keynesian model with two equations that represent the dynamics of inflation and the dynamics of the output gap. Using Matlab, we are able to approximate the solution to the linear–quadratic problem associated with the estimated model, thus obtaining the optimal monetary policy decision.robust, monetary policy

IMPLEMENTING E-LEARNING IN THE ROMANIAN EDUCATIONAL SYSTEM - A PRIORITY IN THE CONTEXT OF EU INTEGRATION

This paper intends to examine the development of e-Learning in Romania and to evaluate the gap between Romania and other members of the European Union (EU). Considering that Romania is part of the EU since 2007, it is imperative to achieve, in the shortest possible time, a real convergence with other member states. This requires finding the most effective ways to accelerate the development and increase the competitiveness. Using extensive IT&C technologies represent such a way, and public services – education, too – are among the development priorities on the agendas of all policies, both nationally and European. Thus, the subject treated in the paper is not only present but also of strategic importance for the immediate future of Romania.e-learning, e-education, IT&C

Robust Monetary Policy

While there is uncertainty about the data that enter into economic models and about the parameters that govern economic models, the fact that economists often approach macroeconomic data armed with different models of the economy suggests that uncertainty, or ambiguity, about the model could also be potentially important. A policy can be made “robust” to model uncertainty by designing it to perform well on average across all of the available fully specified models rather than to reign supreme in any particular model. In this paper we compare the implications of robust monetary policy versus non robust monetary policy for a model based on a new Keynesian model with two equations that represent the dynamics of inflation and the dynamics of the output gap. Using Matlab, we are able to approximate the solution to the linear–quadratic problem associated with the estimated model, thus obtaining the optimal monetary policy decision.robust, monetary policy

IMPLEMENTING E-LEARNING IN THE ROMANIAN EDUCATIONAL SYSTEM - A PRIORITY IN THE CONTEXT OF EU INTEGRATION

This paper intends to examine the development of e-Learning in Romania and to evaluate the gap between Romania and other members of the European Union (EU). Considering that Romania is part of the EU since 2007, it is imperative to achieve, in the shortest possible time, a real convergence with other member states. This requires finding the most effective ways to accelerate the development and increase the competitiveness. Using extensive IT&C technologies represent such a way, and public services – education, too – are among the development priorities on the agendas of all policies, both nationally and European. Thus, the subject treated in the paper is not only present but also of strategic importance for the immediate future of Romania.e-learning, e-education, IT&C