IDEAS home Printed from https://ideas.repec.org/a/rjr/romjef/vy2002i1p25-38.html
   My bibliography  Save this article

Monetary Conditions Index: The Monetary Policy Indicator In Romania

Author

Listed:
  • Croitoru, Lucian

    (National Bank of Romania, CEROPE and IEF)

  • Doltu, Claudiu

    (Academy of Economic Studies)

  • Tarhoaca, Cornel

    (National Bank of Romania, Academy of Economic Studies)

Abstract

On its way to the accession to the European Union, Romanian could decide upon adopting the strategy of direct targeting the inflation, abandoning thus the intermediary targets after 2003. Therefore, the estimation of the monetary condition index would have only informative value since it is an intermediary target - monetary base. The information could be useful as a way of understanding the feature of the monetary policy (hard or soft constraints) and of the impacts the monetary policy has on the economy. The paper estimates the monetary conditions index for Romania using various bases of computation. Having in view the index estimation, the degree of openness of the Romanian economy is estimated to fall within the interval 24.7 and 32.9 as compared to 33 for Canada and 50 for New Zeeland.

Suggested Citation

  • Croitoru, Lucian & Doltu, Claudiu & Tarhoaca, Cornel, 2002. "Monetary Conditions Index: The Monetary Policy Indicator In Romania," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 25-38, March.
    • Handle: RePEc:rjr:romjef:v::y:2002:i:1:p:25-38
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Keywords

    monetary policy; estimation; open economy;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rjr:romjef:v::y:2002:i:1:p:25-38. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Corina Saman (email available below). General contact details of provider: https://edirc.repec.org/data/ipacaro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.