Volume 52 / 2021

Cryptocurrency analysis: Benefits, dangers and price prediction using neural networks

Author: Ntigkaris Alexandros

Abstract: In this paper we will discuss a hot topic of our decade, cryptocurrency. Firstly, we will assess how currency is defined and works and why the current state of money is not suited to guarantee a safe and stable trajectory in the future. Moreover, we will present the benefits of cryptocurrency in contrast with common forms of currency, along with the dangers that may arise. Lastly, we will construct an artificial neural network model to predict the price trajectory of the most prominent cryptocurrencies up until now, Bitcoin and Ether.

Classification-JEL: E49, C45

Keywords: Cryptocurrency, Bitcoin, Ethereum, price prediction, neural networks, analysis

 

Research on the recycling of organic waste by anaerobic co-digestion

Author: Lucia Varga, Gheorghe Zaman, Ioana Ionel, Anca Cristea

Abstract: This paper aims to systematize knowledge on anaerobic co-digestion of biomass, having as main substrate organic waste, manure or sludge from treatment plants. The paper contributes to the transfer of knowledge on the recycling of organic waste in biogas plants in a sustainable and circular bioeconomy. It also presents a working procedure that identifies, both theoretically and experimentally, the optimal mixing ratio of biomass in biogas installations for anaerobic co-digestion. The authors' contribution is related to the interpretation of the different experimental tests performed in the laboratory and to the conclusions reached to identify the optimal mixing ratio of biomass for co-digestion in the pilot biogas plant where the experiments were performed.

Classification-JEL: Q2, Q57.

Keywords: co-digestion, bioeconomy, organic waste, biogas

 

Estimation and model selection in the case of time series. Application on natural gas production

Author: Victor Platon, Andreea Constantinescu, Sorina Jurist

Abstract: In 2021, natural gas price, extraction and distribution across EU became a key theme. The evolution of prices and quantities delivered are in the middle of a heated debate. On the one hand, there is a clear descending trend and, on the other hand, demand is up, pushing prices upward. In the last 10 years was noticed a steady decline in natural gas extracted both at EU level and in Romania. This tendency is typical for the new paradigm concerning energy policy oriented towards a cleaner power output. In these circumstances of prices volatility, it is useful to elaborate a consolidative model for natural gas production in Romania. One important advantage of this model would be to have a tool for better estimate of Romania's energy output. The methodology used several econometric models adapted to non-stationar time series suitable for natural gas production. By comparing the models, we end up selecting the most significant one, the one that showed improved forecast statistics. In this paper were envisaged several results: analysis of the volume of natural gas production; developing regression models for natural gas production in Romania; conclusions on most suitable econometric model for natural gas production in Romania.

Classification-JEL: Q32,Q35,C30

Keywords: Econometric modelling, non-stationary time series,

 

The Impact of Digitalization in Mitigating the Effects of the COVID-19 Pandemic for Silver Population

Author: Mihaela Cazacu, Emilia Ţiţan, Daniela-Ioana Manea, Mihaela Mihai

Abstract: This paper treats an analysis of the evolution of the COVID-19 pandemic in Romania for the silver population category aged 60-69 years. The importance of digitization and supporting the silver economy is also emphasized in mitigating the impact of this health crisis. The development of activities and sectors of activity specific to the elderly, that silver economy, could become a saving factor and turn the problem of increasing the number of the elderly into an opportunity. The conclusion is that the trend of the diseases is an increasing one and digitalization can be a challenge especially for the elderly, in the context in which the Romanian society is not ready to embrace this paradigm shift.
Classification-JEL: O03, I15, I39, C01
Keywords: silver population, COVID-19 pandemic, digitization, silver economy

 

Coronavirus Pandemic in Romania challenges and possible solutions

Author: Madalina Tocan, Oana Chindris Văsioiu, Anca Cristea

Abstract: Lately, we have been witnessing an avalanche of announcements regarding the "economic recovery" of most states hit by the pandemic. However, several specialists say that it is more difficult to return to normal activity because the pandemic does not show signs of slowing down in a few countries around the world, including Romania. In this paper we have attempted an analysis of the coronavirus pandemic impact on the Romanian economy and we have proposed a series of macroeconomic measures in order to recover the national economy.
Classification-JEL: G01, M14
Keywords: Coronavirus Pandemic, Economic Crises, Romania, Social Crises

 

Fuzzy and Deterministic Models in the Simulation of Systems

Author: Dorian Vlădeanu, Ovidiu Gherasim

Abstract: The assertion that uncertainty characterizes the economic processes is already a truism and it is one of their inseparable features. The determinism can only have a coordinate of the didactic process in the field of economic sciences. The deterministic path has been replaced, under the assault of the sciences of complexity, the chaos theory and the fuzzy sets of new approaches, with new openings that make their way and find an increasingly important place in economy.
Classification-JEL: C53, D81, E17
Keywords: system, fuzzy models, simulation, forecast, trapezoidal fuzzy numbers

 

Artificial Intelligence in Business: Present and Perspectives

Author: Adrian Nicolau

Abstract: This paper highlights the changes brought about by artificial intelligence (AI) systems on business. Developments in this area can complement the human decision-making process. Artificial intelligence can reshape companies, management and the innovation process. AI will continue to develop and modify the activity in various economic sectors, due to the high degree of adoption of new automation possibilities. Businesses will have more and more automated processes, but new processes will appear, in which human experts will be also needed. For example, AI may be used in the agricultural sector and may help farmers in their activities, at sowing, in crop and weather monitoring, pest control, harvesting, crop rotation, etc. Thus, AI may help farmers to adopt measures to improve crop quality.
Classification-JEL: M11;M15;M54;O32
Keywords: artificial intelligence;decision-making process;management

 

Insights and issues of the environmental fiscal reform

Author:Simona Frone, Andreea Constantinescu

Abstract: The paper addresses the importance and impacts of an Environmental Fiscal Reform, as a solution to foster environmental protection and to mitigate economic and social issues, promoting a sustainable development. First there are stated some public economics conceptual grounds, followed by objectives and trends of environmental taxes in the European Union and in Romania. Next sections deal with the importance and necessity of the Environmental Fiscal Reform, emphasizing main challenges and perspectives of the EFR in Romania and the EU, in spite of delicate socio-economic issues and other goals.
Classification-JEL: H23; H30; Q58
Keywords: environmental; tax; reform; double dividend