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Inflation Targeting: Provisional Results

Author

Listed:
  • Cerna, Silviu

    (Faculty of Economy and Business Administration, West University, Timisoara)

Abstract

Inflation targeting 􀂱 monetary policy framework that requires the central bank to achieve a low inflation 􀂱 has contributed to price stability in industrialized countries. As well as the other developing countries, ex communist countries have also tried to apply this strategy, which was susceptible to increase monetary policy transparency and to determine authorities to make necessary reforms in order to pass from a planned to a market economy. In Romania, inflation targeting has contributed, to a large extent, to price increase smoothening, without affecting economic growth. Knowing the factors that have determined this unquestionable success allows for not only understanding the Romanian transition process, but also draw some useful conclusions in view of the necessary actions for adopting the euro.

Suggested Citation

  • Cerna, Silviu, 2010. "Inflation Targeting: Provisional Results," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 14(2), pages 192-214.
  • Handle: RePEc:vls:finstu:v:14:y:2010:i:2:p:192-214
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    More about this item

    Keywords

    monetary aggregates; central bank; exchange rate; inflation; monetary policy; interest rate;

    JEL classification:

    • 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

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