The Institute is part of the National Institute for Economic Research belonging to the Romanian Academy. The institute's research potential is supported by the activity of 23 researchers, of whom 12 have Ph.D. degrees in economics or mathematics, and 4 are Ph.D. students. Over 26% of the researchers are also carrying on teaching activities, and more than 17% have had important positions in public administration (minister of labor and social welfare, counselors to the Prime Minister or the minister of public finances).
The institute carries on research projects in the following fields:
Fundamental research - economic modeling and forecasting; econometrics; macroeconomics; non-linear modeling; real business cycles; endogenous cycles and deterministic chaos; consumption theory; informal economy modeling; informational society - knowledge society (the 'new economy').
Policy evaluation - monetary and fiscal policy; sustainability of public debt and budgetary deficits; regional development policies.
Empirical and sample studies - determinants of households behavior; estimation of underground economy and its components; income distribution and poverty indicators; trends in households' consumption structure.
Long-term and short-term forecasts - estimation of the future dynamics of the main macroeconomic indicators (GDP; inflation; unemployment; public debt; monetary base; households savings; industrial production; exchange rate; investments; balance of payments, etc.).
Since its establishment, the Institute's activity has resulted in a significant volume of research output, ranging from theoretical, academically oriented materials, to strategic studies, many times crucial for the economic decision making process in Romania. For example, the projects and models drawn up within the Institute served as elements for the scientific foundation of the Romanian National Program for Accession to EU (1998), of the Romanian National Strategy for Sustainable Growth (1999), of the Industrial Restructuring Strategy (1998) of the country, and of the Romanian Medium Term Economic Strategy (2000). Currently, the Institute is also involved in drawing up impact studies useful for the ongoing pre-accession and EU integration processes, providing counseling to the Romanian Government's specialized institutions.
With respect to the academic activities, the IEF researchers have participated in numerous international bilateral and multilateral projects. The main areas of interest where our researchers are actively involved are: macroeconomic analysis and modeling, labor market policies and institutions, industrial policies, regional and local development, European economic integration and microeconomic analysis. The Institute's research staff has participated in scientific exchanges, mostly with the EU institutions. Among the joint research projects we can mention:
Food Problems in Developing Countries and the Potential Contribution of R&D to Their Solution (coordinator: Prof. David Bigman), The Hebrew University of Jerusalem, CINADCO, University of California - Dept. of Agriculture and Resource Economics, Israel, 1990;
Analytical Challenges in Restructuring Post-Communist Economies, Catholic University of Leuven, The Leuven Institute for Central and East European Studies, Leuven, 1992;
Marketisation, Demonopolisation, and the Development of Internationally Competitive Enterprises in the Non-Agricultural Sectors of Central and Eastern Europe (coordinator: Prof. Marvin Jackson), Leuven, Belgium, Bucharest-Sinaia, 1992-1994;
Informal economy in Romania, ACE - PHARE, ROSES, University of Paris-I, Institute for Economic Forecasting, University of Gottingen (Research Grant), 1996 - 1998 (coordinator Prof. G. Duchene);
UNDP Poverty Alleviation II, UN, 1998;
The MEET network & conferences Projects - ACE-PHARE projects in 1993-4, 1995-6, 1997-8 (coordinator: Leicester University, UK, Prof. Wojciech W. Charemza);
Labor Markets Dynamics and Institutions in Central and Eastern Europe -1999 (World Bank project, coordinator the Institute for Advanced Studies, Vienna, Prof. Andreas Woergoetter);
Romania - Ten Years of Transition (1999), a World Bank Conference (coordinator C. Ruehl);
Models and Alternative Strategies in order to Achieve Macrostabilisation, Economic Growth Recovery and Prepare the Accession into the European Union, National Agency for Science, Technology and Innovation, IPE, Bucharest, 1999 (coordinator Prof. Lucian Albu);
National Program for Accession to the European Union (Part II: "Romania's Medium Term Economic Strategy"), EU PHARE Policy Review Project, Assistance in Preparation of Medium Term Outlook for EU Accession, Romanian Ministry of Finance, Adam Smith Institute - London, Aide à la Décision Economique - Louvain-la Neuve, Bucharest, 1998;
Household Informal Economy activities in candidate countries size, determinants and implications for the enlargement- empirical evidence from Romania and Bulgaria, PHARE-ACE Research Program (Contract: P98-1041-R), Paris, Bucharest, 1998-2002;
Economic Impact of Political Cycles - The Relevance of European Experiences for Romania, ACE-PHARE-98, Fellowship Grant, University of Paris I, ROSES - Paris, Institute for Economic Forecasting - Bucharest, January - July 2001;
Building a Non-linear Structural VAR Model: The Case of Romania, ACE-PHARE-98, Fellowship Grant, University of Leicester, CEES - Leicester, Institute for Economic Forecasting - Bucharest, April-September 2001;
Study of Informal Economy in Romania, USAID, IRIS Center, CEROPE, Institute for Economic Forecasting, Bucharest, 2000-2001;
Possible Concept and Methodological Adjustments in Economics in the Context of Expanding the Informational-Knowledge Society (within the priority project of the Romanian Academy in the field of Informational Society - Knowledge Society);
Founding the Sustainable Development in Romanian Economy with the View to Accession to the EU, research project within the National Research Program - Fundamental Research of Social, Economic and Cultural Interest (CERES), 2001-2003.
The researchers in the Institute have published over one hundred articles in international publications, besides their contributions in the well-established Romanian academic journals and the Institute's bulletins and periodical working papers. Large parts of results of researches were published as chapters in various books edited by prestigious publishing houses, such as: Kluwer, Springer-Verlag, OECD, Word Bank, etc.
More than a third of the researchers are members or founding members of some international research networks or associations, such as: L'Association de Comptabilité Nationale, ACN, INSEE, Paris, France; International Society of Fuzzy Management and Economics, Barcelona, Spain; European Association of Labor Economics, Maastricht, The Netherlands; The European Regional Science Association, Vienna, Austria; Balkan Association for Labor and Environment Quality, Nis, Yugoslavia; Royal Economic Association, United Kingdom; Analytical Challenges in Restructuring Post-Communist Economies, The Belgian National Fund for Scientific Research, Catholic University of Leuven - The Leuven Institute for Central and East European Studies, Leuven, Belgium; Groupe de Recherche et d'Analyse des Théories, Institutions et Conventions Economiques, Université Paris - XII, La Varenne, France; Econometric Inference into Macroeconomic Dynamics of East European Economies, CEES, Leicester, United Kingdom; The International Association of Beneficiaries of CINADCO Scholarships and of French-speaking collaborators to the magazine "Magazine des anciens stagiaires de MASHAV", Tel Aviv, Israel, etc. In Romania, the association of which the researchers of the Institute are members are mainly AGER, SOREC and The Romanian Forum for European Integration, CEROPPE, IRLI, etc.
Some researchers are members in the editorial boards of different publications, such as: Romanian Journal of Economic Forecasting, ANALE-INCE, Romanian Journal of European Affairs, Romanian Economic Review-Revue des Sciences Economique.
The experienced researchers from the Institute participate as teachers or associated researchers at universities and institutes from Romania and abroad, and also as partners, evaluators or advisors at prestigious Romanian and international institutions such as Adam Smith Institute, KPMG, USAID, World Bank, UNDP, IMF, INSEE, ACN, Ministry of Public Finances, Ministry of Labor, National Institute of Statistics, National Bank, Romanian Government, Romanian Academy, Ministry of Education and Research, etc.
Beginning with 2000, the Institute for Economic Forecasting publishes in English the quarterly specialized magazine "ROMANIAN JOURNAL OF ECONOMIC FORECASTING" (under the aegis of EXPERT Publishing House and the "Romanian Economic Research Observer", CIDE, NIES, Romanian Academy), which is well appreciated by the national and international economic research community. Beside the Institute's researchers, in the magazine are publishing articles prestigious economists from Romania and abroad, and in its editorial board are members personalities from Western universities and institutions, such as Prof. Gerard Duchene, director at ROSES, Paris; Ph.D. Byung-Yeon Kim, lecturer at the Essex University; Ph.D. Tanguy de Biolley, director at ADE, Louvain-la-Neuve, Belgium (formerly chief of the Belgium Planning Office for 15 years).
Researchers from our Institute are monthly publishing (in English) studies, analyses and forecasts on Internet Securities Inc., ISI Emerging Markets, http://www.securities.com, as it follows:
"The Dobrescu Macromodel of Romanian Transition Economy - Yearly and Monthly Forecasts", monthly issues since 1999 on the page: Institute for Economic Forecasting - Macroeconomic Analysis and Forecasting;
"Short-term Forecasting for Six Macroeconomic Indicators", monthly issues since 1999 on the page: : Institute for Economic Forecasting - Macroeconomic Analysis and Forecasting;
"Economic Performance Evolution in Transition Systems", monthly studies and analyses since 1999 on the page: Institute for Economic Forecasting - Economic Performance Evolution in Transition Systems;
"Rural Financial Market", monthly issues 1999-2000, on the page: Institute for Economic Forecasting - Rural Financial Market;
"The Barometer of the Romanian Economy", studies and analyses in 14 monthly chapters since March 2000 on the page: Institute for Economic Forecasting - The Barometer of the Romanian Economy.
A particular attention was paid from the very beginning in our Institute to attracting young, promising Romanian researchers, and including them in specific training programs, many times at top universities and institutions in the European Community, and CEE countries, including Romania. Practically, all senior researchers of the Institute have benefited from long spells of training and skill improvement in the EU or candidate countries, in the form of fellowships, scholarships, summer schools of economics, academic bilateral exchanges.
The Institute has also received the visits of many senior and junior researchers from EU member countries or other CEE candidate countries, involved in fellowships, post-doctoral studies, participation in joint research workshops, seminars or in conferences organized by our Institute. Also, the Institute organized workshops, seminars and conferences with international participation.
The quality of the scientific output of our Institute was already proved by the high rate of joint research proposals approved by the European Commission and other prominent donor institutions (the World Bank, the Open Society Institute), and by the large number of requests for participation in bids proposed by third parties research institutions from the EU member states and other CEE candidates. Over the past years, the personnel of the Institute have been awarded numerous grants, scholarships, fellowships, and prizes. Among those prestigious awards there were ACE scholarships and fellowships, inter-academic exchange grants (for example from the British and French Academies of Science), Soros Foundation and Open Society Institute prizes, Romanian Academy of Sciences awards, Fulbright Commission scholarships and fellowships, such as:
The Romanian Academy Prize "Petre S. Aurelian - 1998" and the International Ecumenical Center Prize "Costin Murgescu - First Edition, 1999", for the book "Transition of economy or transition of economics?" (author Prof. Lucian Liviu Albu);
The Romanian Academy Prize "Virgil Madgearu - 1998" for the book "Competitiveness Analysis of the Romanian Economy. Horizon 2000-2005-2010. Strategic Alternative Solutions", collective (co-author Ph.D. Cornelia Scutaru), Editura Academiei Romane, Bucharest, 1998;
The Romanian Academy prizes "Ion Ionescu de la Brad" and "Petre S. Aurelian" (Ionel Desmireanu).
Given its relatively short existence, we consider that the achievements of the IEF are already remarkable. The Institute has proved itself not only as a major player in the Romanian scientific environment, but also as a solid and viable component of the European research and academic community.