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

Author

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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.

Suggested Citation

  • Emilian Dobrescu, 2011. "Some Issues Involved by the Policies Concerning Exchange Rate and Inflation. Quantitative Approach," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 13(29), pages 250-257, February.
    • Handle: RePEc:aes:amfeco:v:13:y:2011:i:29:p:250-257
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    Citations

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    Cited by:

    1. Jernej Mencinger & Aleksander Aristovnik & Miroslav Verbic, 2014. "The Impact of Growing Public Debt on Economic Growth in the European Union," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 16(35), pages 403-403, February.
    2. Iancu, Aurel, 2011. "Models of Financial System Fragility," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 230-256, March.
    3. 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.
    4. Emilian Dobrescu, 2013. "Updating the Romanian Economic Macromodel," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 5-31, December.

    More about this item

    Keywords

    exchange rate; reference interest rate; simulations;
    All these keywords.

    JEL classification:

    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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