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Impactul modificării ratei dobânzii asupra cursului de schimb în România
[The impact of interest rates changes on the exchange rate in Romania]

  • Ghiba, Nicolae
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    Connection between interest rate and foreign exchange is important because of the economic volatility of the two variables, which has an impact on several macroeconomic indicators: inflation, real income, exports and imports. This papers aims to establish a series of characteristics regarding the impact of interest rate in exchange rate volatility. This kind of analysis regarding the link between the interest rate differential and the exchange rate is called Uncovered Interest Parity. In Romania, the currency regime of managed floating with no preannounce path for the exchange rate and the inefficiency of exchange rate channel involves a poor relationship between exchange rate differential and exchange rate.

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    File URL: https://mpra.ub.uni-muenchen.de/28451/1/MPRA_paper_28451.pdf
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    File URL: https://mpra.ub.uni-muenchen.de/34721/1/MPRA_paper_34721.pdf
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    File URL: https://mpra.ub.uni-muenchen.de/34721/2/2010_IASI_FEAA_Impactul_modificarii_ratei_dobanzii_asupra_cursului_de_schimb_in_Romania.pdf
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    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 28451.

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    Date of creation: 10 Oct 2010
    Date of revision: 27 Jan 2011
    Handle: RePEc:pra:mprapa:28451
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    1. Guillermo A. Calvo & Carmen M. Reinhart, 2000. "Fear of Floating," NBER Working Papers 7993, National Bureau of Economic Research, Inc.
    2. Maurice Obstfeld & Kenneth Rogoff & Ben Bernanke & Kenneth Rogoff, . "The Six Major Puzzles in International Macroeconomics: Is there a Common Cause?," Working Paper 32326, Harvard University OpenScholar.
    3. Ronald MacDonald, 1997. "What Determines Real Exchange Rates? The Long and Short of it," IMF Working Papers 97/21, International Monetary Fund.
    4. Catalina Handoreanu, 2008. "Interrelation Between The Exchange Rate And The Interest Rate In Romania," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 12(12(517)(s), pages 90-97, December.
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