EFFECTIVENESS OF MONETARY POLICY IN ROMANIA

EFFECTIVENESS OF MONETARY POLICY IN ROMANIA

The efficiency of monetary policy at macroeconomic level presupposes the study of Taylor's relationship: the change in the interest rate leads to changes in the current and estimated inflation rate as well as in actual and potential GDP. This article studies the effectiveness of monetary policy...

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Main Author: Dan LUPU
Format: Article
Language:English
Published: Technopress 2017-06-01
Series:Journal of Public Administration, Finance and Law
Subjects:
interest rate
inflation
gdp
Online Access:http://www.jopafl.com/uploads/issue11/EFFECTIVENESS_OF_MONETARY_POLICY_IN_ROMANIA.pdf
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spelling doaj-49a38cd6ba2843779ca73b8080b07d502020-11-25T02:26:23ZengTechnopressJournal of Public Administration, Finance and Law2285-22042285-34992017-06-01611103112EFFECTIVENESS OF MONETARY POLICY IN ROMANIADan LUPU0Alexandru Ioan Cuza University of Iasi, Faculty of Economics and Business Administration Iasi, RomaniaThe efficiency of monetary policy at macroeconomic level presupposes the study of Taylor's relationship: the change in the interest rate leads to changes in the current and estimated inflation rate as well as in actual and potential GDP. This article studies the effectiveness of monetary policy in Romania, between 2005 and 2017, both monthly and quarterly, with the help of the ARDL methodology. The results show that monetary policy has been adaptive over the last 20 years; over the years the interest rate cut has led to lower inflation and GDP cuts, with equilibrium interest rates lower than Taylor's interest.http://www.jopafl.com/uploads/issue11/EFFECTIVENESS_OF_MONETARY_POLICY_IN_ROMANIA.pdfinterest rateinflationgdp
collection DOAJ
language English
format Article
sources DOAJ
author Dan LUPU
spellingShingle Dan LUPU
EFFECTIVENESS OF MONETARY POLICY IN ROMANIA
Journal of Public Administration, Finance and Law
interest rate
inflation
gdp
author_facet Dan LUPU
author_sort Dan LUPU
title EFFECTIVENESS OF MONETARY POLICY IN ROMANIA
title_short EFFECTIVENESS OF MONETARY POLICY IN ROMANIA
title_full EFFECTIVENESS OF MONETARY POLICY IN ROMANIA
title_fullStr EFFECTIVENESS OF MONETARY POLICY IN ROMANIA
title_full_unstemmed EFFECTIVENESS OF MONETARY POLICY IN ROMANIA
title_sort effectiveness of monetary policy in romania
publisher Technopress
series Journal of Public Administration, Finance and Law
issn 2285-2204
2285-3499
publishDate 2017-06-01
description The efficiency of monetary policy at macroeconomic level presupposes the study of Taylor's relationship: the change in the interest rate leads to changes in the current and estimated inflation rate as well as in actual and potential GDP. This article studies the effectiveness of monetary policy in Romania, between 2005 and 2017, both monthly and quarterly, with the help of the ARDL methodology. The results show that monetary policy has been adaptive over the last 20 years; over the years the interest rate cut has led to lower inflation and GDP cuts, with equilibrium interest rates lower than Taylor's interest.
topic interest rate
inflation
gdp
url http://www.jopafl.com/uploads/issue11/EFFECTIVENESS_OF_MONETARY_POLICY_IN_ROMANIA.pdf
work_keys_str_mv AT danlupu effectivenessofmonetarypolicyinromania
_version_ 1724847532089016320

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