Does the Inflation Targeting Have a Positive Role upon the Convergence of the Inflation Rate?
AbstractThis article asks whether the monetary regime of inflation targeting that Romania chose is favorable to the inflation convergence with the EU. We analyze a few of the standard models of inflation convergence and apply some of them for the case of Romania. We also use the experience of the other CEE countries to derive lessons for the inflation targeting policy and the convergence process of Romania. We find that the inflation targeting regime supports the inflation convergence and generally the nominal convergence with EU.
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Bibliographic InfoArticle provided by Institute for Economic Forecasting in its journal Romanian Journal of Economic Forecasting.
Volume (Year): 3 (2006)
Issue (Month): 3 (September)
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Inflation Targeting; Nominal Convergence; Maastricht Criteria.;
Find related papers by JEL classification:
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
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