VAR models [13] are a type of multi-equation model that linearly describe the simultaneous interactions and behaviour among a group of variables using only their own past. More specifically, a VAR is a model of simultaneous equations formed by a system of equations in which the contemporary values of model variables do not appear in any explanatory variable in the equations. The set of explanat...

This paper uses Monte Carlo simulations to evaluate alternative identi…cation strategies in VAR estimation of monetary models, and to assess the accuracy of measuring money instability as a cause of output ‡uctuations. I construct theoretical monetary economies using general equilibrium models with cash-in-advance constraints, which also include technology shocks, labor supply shocks, and monet...

The forecasts accuracy evaluation became a constant preoccupation of specialists in forecasting, because of the failure of predictions that caused the actual economic crisis. The objective of this research is to model and predict some economic variables corresponding too few macroeconomic blocks for Romanian economy. The forecast method is represented by econometric models. Moreover, the accura...