Subduing High Inflation In Romania. How To Better Monetary And Exchange Rate Mechanisms?
AbstractRomanian overall economic performance during the first ten years of transition can be termed so far as disappointing: the country has not been able to deliver steady growth, low unemployment and low inflation. This paper focuses on the effectiveness of monetary mechanisms and policies during this period. Special emphasis is placed on the exchange rate mechanism. The first part of the text develops a short introduction to relevant monetary theory in the transition context. In the second part, we analyze the stylized facts pertaining to the Romanian economy and put forward some weaknesses of its banking system and monetary policies. The conclusion presents a set of recommendations for a reform of the current monetary policy.
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Bibliographic InfoArticle provided by Institute for Economic Forecasting in its journal Journal for Economic Forecasting.
Volume (Year): (2003)
Issue (Month): 3 (September)
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monetary policy; banking system; exchange rate mechanism; Romania; policy reform;
Other versions of this item:
- Daniel Daianu & Radu Vranceanu, 2001. "Subduing High Inflation in Romania. How to Better Monetary and Exchange Rate Mechanisms?," William Davidson Institute Working Papers Series 402, William Davidson Institute at the University of Michigan.
- Daniel Daianu & Radu Vranceanu, 2001. "Subduing High Inflation in Romania: How to Better Monetary and Exchange Rate Mechanisms?," The wiiw Balkan Observatory Working Papers 005, The Vienna Institute for International Economic Studies, wiiw.
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
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