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Monetary Policy Approaches Taking into Consideration the Current Economic Context

Author

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  • Anca Maria GHERMAN

    (Bucharest Academy of Economic Studies)

  • Alexandra ADAM

    (Bucharest Academy of Economic Studies)

Abstract

Questions of interest among monetary policy makers involves the identification and analysis of various relationships between macroeconomic variables. To analyze these variables and their interrelations it is necessary to build a macroeconomic model which is based on a vector autoregressive, and in which exogenous shocks have impact on the study variables. How exogenous variables affect the variables of interest represent the transmission mechanisms. Estimates of the transmission mechanism has been considered traditionally, one of the major objectives of many macroeconomic studies. Such empirical researchers have obtained two major conclusions: first, that the transmission mechanism varies over time and the second is that the exogenous shocks change over time. Modeling these variables can intercept all these variations? The conclusions of these models are sufficient for monetary policy makers?

Suggested Citation

  • Anca Maria GHERMAN & Alexandra ADAM, 2010. "Monetary Policy Approaches Taking into Consideration the Current Economic Context," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(12(553)), pages 89-94, December.
    • Handle: RePEc:agr:journl:v:xvii(2010):y:2010:i:12(553):p:89-94
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    Citations

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    Cited by:

    1. repec:cmj:journl:y:2013:i:29:cioran is not listed on IDEAS
    2. Zina Marcu (Cioran), 2013. "Monetary Policy Under The Impact Of The Current Global Crisis," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 5(4), pages 556-566, December.
    3. repec:jes:wpaper:y:2013:v:5:p:556-566 is not listed on IDEAS
    4. Zina V.MARCU căs. CIORAN, 2013. "Monetary Policy And The Inflation Targeting Strategy," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 2, pages 167-173, October.

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