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Some Issues Involved by the Policies Concerning Exchange Rate and Inflation. Quantitative Approach

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  • Emilian Dobrescu

    ()
    (Romanian Academy, Center of Macroeconomic Modelling, National Institute for Economic Research “Costin C. Kiriţescu”, Bucharest, Romania)

Abstract

The paper examines several facets of the interaction between “inflation targeting policy” and “pegged float exchange rate regime”, using the last version of the Romanian macromodel. The implications induced by changes in the following exogenous variables are quantitatively estimated: • CBE – coefficient measuring the Central Bank’s intervention on the forex currency market, which is attached to the equation of the exchange rate, and • CBM - coefficient measuring the Central Bank’s intervention on the domestic monetary market, which is attached to the equation of the reference interest rate. The model simulations refer to leading macroeconomic variables, especially the real economic growth, the foreign trade balance (net exports), the consumer price index, and the nominal exchange rate.

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Bibliographic Info

Article provided by Academy of Economic Studies - Bucharest, Romania in its journal The AMFITEATRU ECONOMIC journal.

Volume (Year): 13 (2011)
Issue (Month): 29 (February)
Pages: 250-257

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Handle: RePEc:aes:amfeco:v:13:y:2011:i:29:p:250-257

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Keywords: exchange rate; reference interest rate; simulations;

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Cited by:
  1. Gheorghe SAVOIU, 2013. "A Statistical Applied Method, Drawing on the Consumer Price Index and its Investigative Qualities," Romanian Statistical Review Supplement, Romanian Statistical Review, vol. 61(2), pages 116-122, May.
  2. Mencinger, Jernej & Aristovnik, Aleksander & Verbic, Miroslav, 2014. "The Impact of Growing Public Debt on Economic Growth in the European Union," MPRA Paper 53243, University Library of Munich, Germany.
  3. Iancu, Aurel, 2011. "Models of Financial System Fragility," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 230-256, March.
  4. Emilian Dobrescu, 2013. "Updating the Romanian Economic Macromodel," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 5-31, December.

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