by Stefanescu, Stefan
Published in Romanian Journal of Economic Forecasting, 2009, volume 10 issue 2, 52-63
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The growth rate of different economies in Europe depends strongly on the production and, especially, on the consumption of energy resources. As an empirical rule, the development of such economies is closely interrelated with a consistent CO2 emission into atmosphere. However, this aspect has a negative impact on the quality of life of the people all over the world.
In the present article we propose a methodology to improve the estimator accuracy of a nonlinear two-parameter prediction model used in Albu (2007) for studying the impact of the greenhouse effect on the macroeconomic growth. In order to prove the validity of the methodological proposals, a stochastic Monte Carlo simulation technique was applied.
nonlinear prediction model, parameter estimation, stochastic Monte Carlo simulation, the distribution of CO2 emission