Econometrics Applying to the Interdisciplinary Studies

• Main Author: Romeo-Victor Ionescu
• Format: Article
• Language: English
• Published: Danubius University 2015-10-01
• Series: Acta Universitatis Danubius: Oeconomica
• Subjects: econometric approach; regional labour market; regional location models; regional optimal solution
• Online Access: http://journals.univ-danubius.ro/index.php/oeconomica/article/view/3058/2850

The paper deals with the idea that econometrics represents a useful instrument for thye economic analysis, even at regional level. According to the labor market conditions, econometrics allows several techniques in order to estimate the structural parameters of an a priori specified system of simultaneous stochastic equations. Moreover, the econometric approach highlights the labor system function as to maximize the employees’ number and labor demand, or to minimize the unemployment rate. A distinct part of the analysis covers the regional econometric approach in connection to regional location and optimum models. The main conclusion of the analysis is that econometrics is able to force the knowledge limits not only in regional economics. The analysis and the conclusions are supported by pertinent diagrams and mathematical relations.