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Evaluation of optimal monetary policy strategy in Romania in the context of fulfilment of convergence criteria

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  • Monica DAMIAN

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    (“Alexandru Ioan Cuza” University, Romania)

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    Abstract

    Adopting the euro currency implies the fulfilment of Maastricht convergence criteria, which implies a number of challenges for the macroeconomic policy mix, due to the existence of the conflict between them. The paper analyzes empirically the main monetary policy strategy in the context of euro in Romania.The results of the study show that inflation targeting is an optimal monetary policy strategy to achieve real and nominal convergence criteria.

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    File URL: http://www.revecon.ro/articles/2011-2/2011-2-9.pdf
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    Bibliographic Info

    Article provided by Institute of National Economy in its journal Romanian Journal of Economics.

    Volume (Year): 33 (2011)
    Issue (Month): 2(42) (December)
    Pages: 146-168

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    Handle: RePEc:ine:journl:v:2:y:2011:i:42:p:146-168

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    Related research

    Keywords: monetary policy strategy; euro; inflation; Maastricht criteria.;

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    1. Orlowski, Lucjan T., 2001. "From inflation targeting to the euro-peg: A model of monetary convergence for transition economies," Economic Systems, Elsevier, vol. 25(3), pages 233-251, September.
    2. Pelinescu, Elena & Caraiani, Petre, 2006. "Does the Inflation Targeting Have a Positive Role upon the Convergence of the Inflation Rate?," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 3(3), pages 39-50, September.
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