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Monetary Policy And The Inflation Targeting Strategy


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  • Zina V.MARCU căs. CIORAN

    (Doctoral School of Economics and Business Administration, Alexandru Ioan Cuza University of Iasi, Romania)

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    The monetary policy is a basic component of the economic policy. It has an important role in fulfilling the main objectives of the economic politics, which is: price stability, insurance of a balanced economic raise, full occupancy of human resources and the external payment balance stability insurance. Inflation is a negative thing affecting the economy both on short and long term. On short term, it erodes the purchasing power of currency and thus, it mostly affects the retirees and those with fixed incomes. On long term, inflation discourages the investments and the economic growth. The purpose of this paper consists in the revision and presentation of the specialized literature concerning the impact the monetary policy has on the main macro-economical variables, especially on inflation, in terms of influence of the monetary authority decision on economic and financial conjunction. It was found that the monetary authorities of any country can evaluate exactly the rhythm and the effects of their actions on the economy by understanding the mechanisms which the monetary policy uses to influence the economy.

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    Bibliographic Info

    Article provided by Fundația Română pentru Inteligența Afacerii, Editorial Department in its journal SEA - Practical Application of Science.

    Volume (Year): (2013)
    Issue (Month): 2 (October)
    Pages: 167-173

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    Handle: RePEc:cmj:seapas:y:2013:i:2:cioran

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    Related research

    Keywords: Inflation targeting; Monetary policy; Price stability; Central bank independence;

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    1. Pelinescu, Elena & Dospinescu, Andrei Silviu, 2008. "Alternative Measures of Core Inflation in Romania," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 5(1), pages 134-148, March.
    2. King, Mervyn, 1997. "Changes in UK monetary policy: Rules and discretion in practice," Journal of Monetary Economics, Elsevier, vol. 39(1), pages 81-97, June.
    3. Silviu CERNA, 2012. "The Monetary Policy in Post Crisis Period," Timisoara Journal of Economics, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 5(17), pages 58–78.
    4. Daianu, Daniel & Kallai, Ella, 2008. "Disinflation and Inflation Targeting in Romania," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 5(1), pages 59-81, March.
    5. Vasile DEDU & Tiberiu STOICA, 2011. "The Monetary Policy and the Real Estate Market," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(12(565)), pages 5-14, December.
    6. Gerald P. Dwyer & Mark Fisher, 2009. "Inflation and monetary regimes," Working Paper 2009-26, Federal Reserve Bank of Atlanta.
    7. Dorel AILENEI & Amalia CRISTESCU, 2012. "Inflation Game Redistributions and Economic Crisis Path," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(3(568)), pages 5-14, March.
    8. Nikolay Nenovsky, 2010. "Monetary Regimes In Post-Communist Countries Some Long-Term Reflections," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 57, pages 217-234, november.
    9. Pelinescu, Elena, 2012. "Transmission Mechanism of Monetary Policy in Romania. Insights into the Economic Crisis," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 5-21, September.
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