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Considerations regarding the structure, significance and trend of monetary indicators in Romania and in the Eurosystem

Author

Listed:
  • Oana GHERGHINESCU

    (University of Craiova)

  • Gheorghe GHERGHINESCU

    (National Bank of Romania)

  • Mirela CRISTEA

    (University of Craiova)

Abstract

The present paper aims at achieving a comparative analysis of the structure of monetary aggregates, according to the definitions used by the European Central Bank and the National Bank of Romania, respectively. The relevance of such a comparison is justified by the changes adopted by the monetary authority from Romania at the beginning of 2007 in what regards the structure of aggregates M1, M2 and M3. The paper expresses opinions on the effectiveness and impact of monetary strategies implemented by the two monetary authorities, namely the two-pillar strategy used by the European Central Bank and the direct inflation targeting strategy implemented by the National Bank of Romania.

Suggested Citation

  • Oana GHERGHINESCU & Gheorghe GHERGHINESCU & Mirela CRISTEA, 2008. "Considerations regarding the structure, significance and trend of monetary indicators in Romania and in the Eurosystem," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 2(36), pages 781-787, may.
    • Handle: RePEc:aio:aucsse:v:2:y:2008:i:11:p:781-787
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    File URL: http://feaa.ucv.ro/AUCSSE/0036v2-023.pdf
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    Cited by:

    1. Sánchez, Marcelo, 2010. "Modelling anti-inflationary monetary targeting: with an application to Romania," Working Paper Series 1186, European Central Bank.

    More about this item

    Keywords

    monetary indicators; monetary aggregates; National Bank of Romania; Eurosystem.;
    All these keywords.

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • O00 - Economic Development, Innovation, Technological Change, and Growth - - General - - - General
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

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