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The paper aims to estimate the size of shadow economy (SE) and tax evasion (TE) in Romania for the period 2000–2017. We apply different approaches – Multiple Indicator Multiple Cause (MIMIC) model for the estimation of the size of the SE and the currency demand approach for the estimation of TE – in order to lay emphasis on peculiarities of these two phenomena. Empirical analysis reveals that SE acts as a substitute to formal economy while tax evasion is complement to GDP. Policy implications are that, given the different causes behind these two phenomena, the importance and consequences of SE and TE change over business cycle and they require different policy measures. [ABSTRACT FROM AUTHOR]

The paper aims to investigate if the activity sector matters in explaining and analysing the job satisfaction, its determinants and also the satisfaction related to the performance evaluation process using an empirical research based on gender differences for a sample of 301 employees from seven sectors of activity. The paper aims to respond to the following key research questions: there are statistical differences concerning the job satisfaction and also the perceptions regarding the performance evaluation process in different sectors of activity with certain specificities?. In order to respond to these questions, descriptive statistics, non-parametric correlation and non-parametric tests (Kruskal-Wallis) were used. The empirical results revealed that employees from services, manufacturing industry and agriculture exhibited the highest level of job satisfaction while constructions represents the sector with the lowest level. The analysis of motivational factors revealed that workplace comfort and job stability are considered to be the most important motivating factors in all sectors of activity, while the perspective of hierarchical advancement and logistical support the least motivating. The results of Kruskal-Wallis test pointed out statistical differences among sectors of activity regarding the job satisfaction level and the attractiveness of work done. Concerning the level of satisfaction related to the last employee evaluations, retail trade and manufacturing industry are the sector with the highest degree of satisfaction while services and wholesale trade registered lower levels of satisfaction. As methods used in the evaluation, the analysis based on the superiors' opinion was used in all sectors with the exception of agriculture characterized by the presence of informal free talks. The empirical results highlighted significant differences in different sectors of activity regarding the elements taken into consideration in the employee performance evaluation process: productivity, initiative/innovation, quality of communication, relationships with subordinates, superiors and customers and professional development. [ABSTRACT FROM AUTHOR]

The paper aims to evaluate the level of overall motivation among Romanian employees from different types of companies and different sectors of activity and to enhance the main motivational factors from the perspective of Vroom's expectancy theory testing the assumptions that each of the five components-expectancy, extrinsic instrumentality, intrinsic instrumentality, extrinsic valence and intrinsic valence has a direct impact on employee motivation and revealing the differences among employees concerning the motivation level and its drivers. In order to do that, national representative sample of 301 Romanian employees has been used applying the regression analysis and Kruskal-Wallis and Mann-Whitney non-parametric tests in order to highlight the empirical results. The results show that from all five components, three of them best explain the process of motivating employees- intrinsic valence, expectancy and extrinsic instrumentality. Significant differences have been found regarding the main motivational factors by regions of development, company size, activity sector, salary and professional status. [ABSTRACT FROM AUTHOR]

The field of eco-innovation is included in the area of sustainable development being closely related with ecological planning. In this context, this paper aims to evaluate Romanian eco-innovation performance during the period 2003-2013 by constructing a composite index and to also identify the main eco-innovation poles at the European level using multidimensional analysis techniques based on the eco-innovation specific indicators for the year 2013. This approach used the methodology of constructing composite indices proposed by Organization for Economic Co-operation and Development (OECD) in 2008. The index measured the eco-innovation dimensions in 27 countries over the period 2003-2013. The empirical analysis revealed the conclusion that in Romania, the eco-innovation level is low compared with other countries, thus Romania cannot emphasize its eco-innovation performance. The empirical results of the study highlighted that eco-innovation represents a phenomenon leading to significant progress in achieving the objective of sustainable development in Romania, and also at the European level, only if the importance of this area is awarded and eco-innovation measures are enforced through adequate policies, leading to economic growth. [ABSTRACT FROM AUTHOR]

The paper aims to analyze the unidirectional relationship from active ageing phenomena to the size of the Romanian shadow economy in order to see if the unofficial sector represents a social buffer for older workers who have lower labor market opportunities. In order to do that, we applied two important causality analyses, Granger and Toda-Yamamoto, based on quarterly data over the period 2000-2010. The size of the Romanian shadow economy was previously estimated using a revised version of the currency demand approach based on autoregressive distributed lag (ARDL) approach. For active ageing, the employment rate for older workers was used as proxy. The cointegration empirical results highlight the existence of a positive long-run relationship between employment rate of elderly and unofficial sector. The empirical causality results conclude that there is a unidirectional Granger causality that runs from employment rate of older workers to shadow economy both on long-run and short-run. The empirical results of Toda-Yamamoto revealed the absence of a short-run causal relationship from employment rate for older workers to the size of shadow economy. One possible explanation for the existence of a positive relationship that runs from employment rate of elderly to unofficial sector can be the low capacity of the economy to generate proper jobs, so this age group of older workers does not have qualifications that meet the needs of formal economy, and therefore shadow economy becomes an alternative to formal work and it may provide a buffer for some workers who have few alternative labor market opportunities. Another alternative could be the fact that this age group of elderly remains occupied in the formal lab our market, but with low earnings and they work in informal activities in order to supplement their income. [ABSTRACT FROM AUTHOR]

The aim of the paper is to investigate the relationship between official employment, official unemployment and unofficial employment in Romania for the period 2000-2014, using LFS survey data. This type of method quantifies the persons working in unofficial economy, but is not able to capture those who are employed in both sectors (formal and informal).The empirical results reveal the existence of a negative relationship between activity rates and the estimated value of unofficial employment. Correlation coefficients for the period 2000-2014 highlighted the presence of a negative relationship between official employment and unofficial employment, respectively official unemployment and unofficial employment. Using this method who has its limitations, the Romanian unofficial employment is most probably underestimated. [ABSTRACT FROM AUTHOR]

The paper aims to investigate the nature of the relationship between the shadow economy (SE) and recorded GDP for the case of Romania using Pesaran et al.(2001) bounds tests approach for cointegration for the period 2000-2010. The size of Romanian shadow economy is estimated using a revised version of the currency demand approach based on autoregressive distributed lag (ARDL) approach to cointegration analysis. To investigate the long-run causal linkages and short-run dynamics between shadow economy and recorded GDP, ARDL cointegration approach is applied. The ARDL causality results revealed only the existence of a long-run unidirectional causality that runs from shadow economy official economy, revealing a negative relationship betwwen them on long-run. In addition, the CUSUM and CUSUMSQ tests confirm the stability of causal relationships. [ABSTRACT FROM AUTHOR]

Official economic situation plays a crucial role in people's decision to work or not in the informal sector. In a booming official economy, people have a lot of opportunities to earn a good salary and even extra money. This is not the case of an economy in recession, when people try to compensate the loss of income from formal economy through involvement in the informal economy. The paper aims to evaluate the relationship between official economy and shadow economy for the case of Romania using quarterly data covering the period 20000Q1-2013Q4.In order to do that, a structural vector autoregressive approach(SVAR) was used. The relationship between the two variables is tested by imposing a long-run restriction in the Structural VAR model to analyze the effect in the size of Romanian shadow economy to a temporary shock in real GDP. The impulse response function generated by the Structural VAR confirms that in the short-run, a rise in the official economy will lead to a decrease in the size of the shadow economy. [ABSTRACT FROM AUTHOR]

The paper analyses the relationship between shadow economy and unemployment rates using a Structural VAR approach for quarterly data during the period 2000-2010. The size of Romanian shadow economy is estimated using the currency demand approach based on VECM models, stating that its size is decreasing over the analyzed period, from 36.5% at the end of 2000 to about 31.5% of real GDP at the middle of 2010. The relationship between the variables is tested by imposing a long-run restriction in the Structural VAR model to analyze the impact of the shadow economy to a temporary shock in unemployment. The accumulated responses generated by a positive supply shock (unemployment rate) confirms that in the short-run, a rise in both registered and ILO unemployment rates in formal sector will lead to a decrease in the number of people who work in the shadow economy in the second quarter following the initial shock and to an smaller increase in the size of the Romanian shadow economy in the third quarter following the initial shock. [ABSTRACT FROM AUTHOR]

The paper aims to analyze the Romanian insurance market in 2011 from the perspective of gross written premiums on non-life insurance classes, using principal component analysis technique (PCA) and cluster analysis in order to classify the 30 insurance companies by the most important components obtained by PCA.The empirical results showed that aircraft liability insurance, accident and sickness insurance, liability insurance for ships, insurance of legal expenses and the general liability insurance and surety ship insurance explain best the evolution of the insurance market. Grouping companies after the first two principal components, aircraft liability insurance, accident and sickness insurance, which recovers about 53% of the total variance of the original variables, can highlight three classes of companies: Astra, Allianz-Tiriac and Omniasig. The cluster analysis indicates the existence of four classes of companies: City Insurance, Astra, Groupama Insurances and the rest. [ABSTRACT FROM AUTHOR]