SOME PARTICULARITIES OF THE MONETARY TRANSMISSION CHANNELS IN ROMANIA
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Authors:
• Ramona DUMITRIU, Afiliation: “Dunarea de Jos” University Galati, Faculty of Economic Sciences
• Cornel NISTOR, Afiliation: “Dunarea de Jos” University Galati, Faculty of Economic Sciences
• Răzvan ŞTEFĂNESCU, Afiliation: “Dunarea de Jos” University Galati, Faculty of Economic Sciences -
Keywords: Monetary Policy, Transmission Mechanism, VAR Analysis, Inflation Targeting, Transition, Countries.
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Abstract:
In the last decade the monetary policy from Romania was deeply changed. The inflation decreased considerably in comparison with the 1990s. From a few years National Bank of Romania adopted the inflation targeting strategy that implied a careful use of the monetary instruments. The success of the Central Bank depends greatly on understanding the monetary transmission mechanism. Using the VAR methodology, we analyze in this article the particularities of the monetary transmission mechanism in Romania.