Dumitru, Ionut (2006): Tintirea directa a inflatiei in Romania – provocari si perspective.
Download (78kB) | Preview
Using the most important criteria that should be taken into account when a monetary policy strategy is changed, this paper assess the opportunity of changing the status quo of the monetary policy in Romania with the inflation targeting monetary policy framework in 2005. The paper identifies the challenges of the direct inflation targeting implementation in Romania and analyzes the future of this strategy in the medium and long-run perspective. Regarding the perspectives of inflation targeting in Romania, this paper emphasizes the fact that the strategy would be maintained according to NBR strategy at least till ERM2 entry. The paper concludes also that after the Romania’s EU entry and ERM2 participation, a strict inflation targeting framework will not be appropriate anymore. A more flexible inflation targeting, allowing for exchange rate stability would be more appropriate.
|Item Type:||MPRA Paper|
|Original Title:||Tintirea directa a inflatiei in Romania – provocari si perspective|
|English Title:||Inflation targeting in Romania - challenges and perspectives|
|Keywords:||politica monetara, tintirea inflatiei, convergenta, integrare in UEM, mecanismul ratelor de schimb (ERM2)|
|Subjects:||F - International Economics > F1 - Trade > F15 - Economic Integration
E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E31 - Price Level; Inflation; Deflation
E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy
E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook > E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination
|Depositing User:||Ionut Dumitru|
|Date Deposited:||22. Sep 2008 06:39|
|Last Modified:||14. Feb 2014 10:06|
Ball, Laurence; SHERIDAN, Niamh - „Does Inflation Targeting Matter?”, International Monetary Fund Working Paper, WP/03/129, 2003
Bucsa, D., I Dumitru, (2004), “Functia de reactie a unei banci centrale in conditii de inflation targeting”, Colocviul Financiar – Monetar, ASE.
Eichengreen, B. J. (2001), “Capital Account liberalization: What do Cross Country Studies Tell us?”, The World Bank Economic Review, 15: 341-365
Friedman, M. (1968), “The role of monetary policy”, The American Economic Review, Vol. 58, No. 1.
Galí, J and Gertler, M (1999), ‘Inflation economics: a structural economic analysis’, Journal of Monetary Economics, Vol. 44(2), pages 195–222.
Isarescu, M, (2005), “Obiectivele pe termen mediu ale politicii monetare