From rhetorics to practice in monetary policy. A Romanian perspective

Gabor, D. (2008) From rhetorics to practice in monetary policy. A Romanian perspective. Comparative Economic Studies, 50 (3). pp. 511-534. ISSN 0888-7233 Available from:

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In August 2005, the National Bank of Romania changed its monetary policy framework in an attempt to sharpen its influence on monetary conditions in the economy. It replaced the strategy of targeting monetary aggregates used since 1990 with inflation targeting, a ‘fashionable’ policy stance grounded in a systematic commitment to a single, low inflation target. This paper will argue that the regime switch has failed to bridge the gap between policy theory and practice that prevailed during the monetary targeting years, as the new policy regime is similarly at odds with the structural conditions in the Romanian economy.

Item Type:Article
Uncontrolled Keywords:monetary policy, inflation targeting, transition economies, Romania
Faculty/Department:Faculty of Business and Law > Department of Business Management
ID Code:12558
Deposited By: Professor D. Gabor
Deposited On:16 Dec 2010 10:31
Last Modified:07 Nov 2016 01:19

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