Artikel
Effects of Monetary Policy in Romania - a Var Approach
Understanding how monetary policy decisions affect inflation and other economic variables is particularly important. In this paper we consider the implications of monetary policy under the inflation targeting regime in Romania, based on an autoregressive vector method including recursive VAR and structural VAR (SVAR). Therefore, we focus on assessing the extent and persistence of monetary policy effects on gross domestic product (GDP), price level, extended monetary aggregate (M3) and exchange rate. The main results of VAR analysis reflect a negative response of consumer price index (CPI), GDP and M3 and positive nominal exchange rate behaviour to a monetary policy shock, and also a limited impact of a short-term interest rate shock in explaining the consumer prices, production and exchange rate fluctuations.
- Sprache
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Englisch
- Erschienen in
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Journal: CES Working Papers ; ISSN: 2067-7693 ; Volume: 4 ; Year: 2012 ; Issue: 3a ; Pages: 605-624 ; Iasi: Alexandru Ioan Cuza University of Iasi, Centre for European Studies
- Klassifikation
-
Wirtschaft
Price Level; Inflation; Deflation
Monetary Policy
Central Banks and Their Policies
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
- Thema
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monetary policy
transmission mechanism
vector auto regressions Romania
- Ereignis
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Geistige Schöpfung
- (wer)
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Popescu, Iulian
- Ereignis
-
Veröffentlichung
- (wer)
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Alexandru Ioan Cuza University of Iasi, Centre for European Studies
- (wo)
-
Iasi
- (wann)
-
2012
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Popescu, Iulian
- Alexandru Ioan Cuza University of Iasi, Centre for European Studies
Entstanden
- 2012
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