Mihaela Gondor - Academia.edu (original) (raw)

Papers by Mihaela Gondor

As the previous endeavors by the European Commission to submit the Common Corporate Tax Base (CCT... more As the previous endeavors by the European Commission to submit the Common Corporate Tax Base (CCTB) have failed, and new aspects have arisen that increases the demand for a common viewpoint to corporate taxation in the European Union Member States, the Commission announced in October 2016 to relaunch the proposaldirective for a common consolidated corporate tax base (CCCTB). Therefore, the paper discusses various parts of the fiscal policy reforms in the European Union, to promote the fiscal harmonization, with regard to the Common Consolidated Corporate Tax Base. The study focuses on the issues of the two-phase approach of the CCCTB, which will substantially reform corporate taxation throughout the EU, to ensure fiscal responsibility at the national and European level, to upgrade the business environment in the European single market, by molding EU tax law simpler. The aim of the study is to present the main measures of the reform, to compare the 2011 proposal with the new phased approach, and to analyze the pros and the cons. The main objective of this paper is to back up a statement on the design of the CCCTB with the comprehensive analysis in order to contribute to the finding of a European solution to the new matters in the present day settled international tax rules. The paper uses actual official data from European Union database, Eurostat, and national authorities.

Journal of Accounting and Finance, 2013

This paper examines the interrelated aspects of the recent economic and fiscal crisis – such as t... more This paper examines the interrelated aspects of the recent economic and fiscal crisis – such as the GDP growth, budgetary deficit and public debt, fiscal policy and austerity measures in Romania by comparing the different effects caused by different fiscal policies within a boom period and a downturn period. The paper reveals that the boom period is characterized by tax rate cuts and rising of expenditures and the downturn period, by the increasing of fiscal burden and sharply reducing the government spending. In this perspective, the aim of this paper is to provide some empirical basis for the argument that pro-cyclical fiscal policy does not assist in dampening the GDP shocks.

Curentul Juridic, The Juridical Current, Le Courant Juridique, 2011

Procedia. Economics and finance, 2014

Starting from the objectives and the status of European tax harmonization and based on the resear... more Starting from the objectives and the status of European tax harmonization and based on the research literature's studies, the paper formulates its own arguments pro tax competition and con total fiscal harmonization, with regard to direct taxation, by responding to some key questions: "Have indeed the national tax systems a negative effect on EU market integration in the absence of the total harmonization ?"; "Is direct tax harmonization critical to the operation of the Single Market ?" By using the logical analyse instruments, the paper concludes about the beneficial role of fiscal competition

Ovidius University Annals: Economic Sciences Series, 2012

A part of the empirical literature seems to support the view that international differences in co... more A part of the empirical literature seems to support the view that international differences in corporate taxation are important determinants of FDI location, while another part argue that FDI are attracted by the business environment, without taking into consideration any directly or indirectly influence of fiscal policy. In this context, the aim of the present paper is to analyze the relation between corporate tax rates competition and Foreign Direct Investment location and to offer conjectures as to the reasons behind. In this purpose the paper analyze the evolution of FDI in European Union, in the developed and emerging economies together with the national differences in corporate taxation, for the period 2005-2010. The study’s results suggest that fiscal competition between governments for FDI is not necessarily a corporate tax rates competition, but a business environment one, which is determined primarily by fiscal policy.

RePEc: Research Papers in Economics, Dec 15, 2011

The liquidity problems that appeared on the interbank money markets during the financial crisis c... more The liquidity problems that appeared on the interbank money markets during the financial crisis caused an increased volatility of the interbank interest rates, especially after September 2008. Banking institutions from the Euro zone have avoided the mutual funding, which resulted in a reduction of the interbank interest rates due to the excess liquidity on the interbank money markets. In these conditions we want to analyze the behavior of interbank interest rates for several CEE transition countries, responding to the following question: will they return to the long run equilibrium or will they follow a random walk? In our research we deal with unit root tests taking into consideration structural breaks and the persistence of the volatility. We also examine the long run equilibrium between the term structures of interest rates appealing at the cointegration analysis and proposing some Vector Autoregressive models. Finally, we assess the cointegration between the interbank money markets from Euro zone, Bulgaria, Czech Republic, Hungary, Poland and Romania and propose some volatility transmission models.

Ovidius University Annals: Economic Sciences Series, 2010

Romania's progress demands to be included the principals of sustainable development in it's devel... more Romania's progress demands to be included the principals of sustainable development in it's development strategy. Within this framework the importance of studying and analyzing the tourism evolution can be noted. The need of knowledge regarding the fluctuations canned by the results of the tourism related activities allowed the approach of the issue related to the correlation stage of the accommodation capacity and the number of tourists arrived within the accommodation structures in Romania during the 2000-2008 period. The mutual involvement relationship, existence, direction form and intensity of the connection between the two indicators are analyzed within this paper. The conclusions following the analysis of the obtained results, shape as an upper phase in filling in the image of the Romanian tourism, bearing in mind the establishment and application of sustainable development strategies.

Prezenta lucrare abordează Acordul Basel II în perspectiva actualei crize financiare internaţiona... more Prezenta lucrare abordează Acordul Basel II în perspectiva actualei crize financiare internaţionale. Prima secţiune prezintă o privire de ansamblu asupra stabilităţii financiare şi monetare, obiectiv principal al Băncii Reglementelor Internaţionale, aşa cum rezultă din acordurile internaţionale bancare Basel, care se doresc a fi instrumente eficiente pentru atingerea acestui obiectiv. Secţiunea a doua prezintă prevederile de bază ale Acordului Basel II referitoare la cerinţele de capital calculate in funcţie de risc, la problematica supravegherii funcţionării pieţei financiare şi monetare la nivelul statelor membre şi la metodele care pot fi adoptate în calculul riscului operaţional. În secţiunea a treia sunt prezentate unele limite ale Acordului Basel II aşa cum sunt dovedite pregnant de prezenta criză financiară internaţională. În ultima secţiune am prezentat unele propuneri de îmbunătăţire a prevederilor Acordului Basel II, în scopul dezvoltării unei strategii coordonate în măsură să protejeze pe viitor sistemul bancar împotriva şocurilor financiare, pe termen lung.

Procedia. Economics and finance, 2012

Curentul Juridic, The Juridical Current, Le Courant Juridique, 2019

In the present article we extend our latest studies where we to explored implications in the prog... more In the present article we extend our latest studies where we to explored implications in the progression and patterns of Romanian GDP. We employ data mining techniques, such as model trees and linear regression, over data extracted from statistics, socioeconomic indicators tables and reports from the Eurostat, Romanian National Bank (NBR) and Romanian National Institute of Statistics, over the 2001-2010 period. We continue to present our investigation of GDP patterns spaced out from classic ways, through taxes on production, imports, on income and on wealth, employers’ social contributions from various fields of economy (agriculture, commerce, constructions, industry, services, financial, banking, etc.) as well as salaries level, based on the data mining tasks. Keywords— GDP, Tax changes, Data mining, Model trees, Linear regression, M5.

This paper examine the role of Automatic Fiscal Stabilizers for stabilizing the cyclical fluctuat... more This paper examine the role of Automatic Fiscal Stabilizers for stabilizing the cyclical fluctuations of macroeconomic output as an alternative to discretionary fiscal policy. Based on the literature in the field, this paper points out the disadvantages of fiscal discretionary policy and argue the need of using Automatic Fiscal Stabilizers in order to provide a faster decision making process, shielded from political interference, and reduced uncertainty for households and business environment. The paper presents some features of AFS operating mechanism and also identifies and systematizes the factors which provide its importance and national individuality. The paper argue the need for continued precaution in the use of discretionary policy, deep concern for implementation of Automatic Fiscal Stabilizers, the objective of making automatic stabilizers more effective and the integration of better measures of fiscal balance into the discretionary policy process. The objectives of the st...

Ovidius University Annals Economic Sciences Series, 2012

Annals of Faculty of Economics, 2012

This paper examines the role of Automatic Fiscal Stabilizers (AFS) for stabilizing the cyclical f... more This paper examines the role of Automatic Fiscal Stabilizers (AFS) for stabilizing the cyclical fluctuations of macroeconomic output as an alternative to discretionary fiscal policy, admitting its huge potential of being an anti crisis solution. The objectives of the study are the identification of the general features of the concept of automatic fiscal stabilizers and the logical assessment of them from economic perspectives. Based on the literature in the field, this paper points out the disadvantages of fiscal discretionary policy and argue the need of using Automatic Fiscal Stabilizers in order to provide a faster decision making process, shielded from political interference, and reduced uncertainty for households and business environment. The paper conclude about the need of using fiscal policy for smoothing the economic cycle, but in a way which includes among its features transparency, responsibility and clear operating mechanisms. Based on the research results the present paper assumes that pro-cyclicality reduces de effectiveness of the Automatic Fiscal Stabilizer and as a result concludes that it is very important to avoid the pro-cyclicality in fiscal rule design. Moreover, by committing in advance to specific fiscal policy action contingent on economic developments, uncertainty about the fiscal policy framework during a recession should be reduced. Being based on logical analysis and not focused on empirical, contextualized one, the paper presents some features of AFS operating mechanism and also identifies and systematizes the factors which provide its importance and national individuality. Reaching common understanding on the Automatic Fiscal Stabilizer concept as a institutional device for smoothing the gap of the economic cycles across different countries, particularly for the European Union Member States, will facilitate efforts to coordinate fiscal policy responses during a crisis, especially in the context of the fiscal harmonization. The main result of this study is the developing of the definition of Automatic Fiscal Stabilizer.

Studia Universitatis Petru Maior Series Oeconomica, 2008