An Analysis On The Monetary Policy Interest Rate Channel In The Transmission Of The Monetary Impulse
Performance criteria in terms of nominal convergence and alignment with the monetary policy of the European Central Bank (ECB), National Bank of Romania will need to use more effective monetary instruments at its disposal to achieve its fundamental objective of price stability, in this respect, being planned an annual inflation targeting of 3.5% ± 1 percentage point for 2009 and 2010. Thus, in this article we will examine how the interest rate channel works in the monetary policy impulse transmission: namely we calculate several intervals of margin and elasticity that will outline the impact of monetary policy interest rate on several inter banking market variables (short term analysis) as well as on some macroeconomic variables (including HICPs and the exchange rate RON/EUR and RON/USD). The present article is indented to develop future, more elaborate analysis.
Volume (Year): 13 (2009)
Issue (Month): 4 ()
|Contact details of provider:|| Postal: |
Phone: 004 021 3182419
Fax: 004 021 3182419
Web page: http://www.icfm.ro/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:vls:finstu:v:13:y:2009:i:4:p:188-199. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Daniel Mateescu)
If references are entirely missing, you can add them using this form.