European Parliament Library

Romania :, Selected Issues

This Selected Issues paper discusses Romania’s modeling monetary policy. A simple Forecasting and Policy Analysis System (FPAS) for Romania has been designed to help in the preparation of the IMF staff’s forecasts and policy assessments. A major advantage of this approach is that it allows the systematic and rapid analysis of different policy options. The model embodies the key principle that, in an inflation-targeting framework, the role of monetary policy is to provide an anchor for inflation and inflation expectations. The development and calibration of this model is an ongoing process
Table Of Contents
Cover; Contents; I. Modeling Monetary Policy in Romania; A. Introduction; B. The Model; 1. Exchange Rates, Intervention, and Interest Rates; Boxes; 2. Estimating Potential Output using the LRX Filter; C. Inflation Targeting; Figures; 1. Modeling the Equilibrium Real Exchange Rate; D. Using the Model; 2. Policy Scenario Summary, 2005-2010; E. Sensitivity Analysis; 3. Sensitivity Analysis; F. Conclusion; Appendices; I. Calibration; II. Complete Model Equations; References; II. Wage Dynamics in the Romanian Economy; A. Introduction; Figures
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (69 p.)
Specific Material Designation
Form Of Item

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