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Evolutions and trends regarding the monetary and fiscal-budgetary policy in Romania

Author

Listed:
  • Pargaru Ion

    (University POLITEHNICA of Bucharest, Romania)

  • Gombos Carol Cristina

    (Bucharest University of Economic Studies, Romania)

  • Spiridon Carmen

    (Valahia University of Targoviste, Romania)

  • Buzoianu Ovidiu Andrei Cristian

    (University of Economic Studies, Romania)

Abstract

The purpose of this paper is to provide a presentation and an analysis of the evolution and trends in monetary and fiscal policy in Romania. There will be a brief presentation of the evolution and objectives of monetary policy as well as the evolution of fiscal-budgetary policy. In order to respond to similar requirements outlined from the perspective of the monetary policy in Romania, this paper aims to expand the area of information that monetary analysis can provide in the current context of the Romanian economy. At the same time, the analysis, the indicators regarding the fiscal-budgetary policy (expenditures, revenues, and the budget deficit), as well as the indicators of the monetary policy (inflation rate, exchange rate and public debt) in Romania during 2014-2020 are presented. Much of the economic theory as well as recent practice of central banks assigns to currency and monetary analysis an important role in the formulation of monetary policy. It follows from the relevance of the information provided to the central bank by a comprehensive monetary analysis- in which the results generated by statistical and econometric techniques are complemented by expert judgment- the most significant being information on price developments, risks to disinflation / price stability, as well as the dynamics of economic growth.

Suggested Citation

  • Pargaru Ion & Gombos Carol Cristina & Spiridon Carmen & Buzoianu Ovidiu Andrei Cristian, 2022. "Evolutions and trends regarding the monetary and fiscal-budgetary policy in Romania," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 16(1), pages 381-389, August.
    • Handle: RePEc:vrs:poicbe:v:16:y:2022:i:1:p:381-389:n:22
    DOI: 10.2478/picbe-2022-0037
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    References listed on IDEAS

    as
    1. Greg Kaplan & Benjamin Moll & Giovanni L. Violante, 2018. "Monetary Policy According to HANK," American Economic Review, American Economic Association, vol. 108(3), pages 697-743, March.
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    4. Robert J. Barro & Charles J. Redlick, 2011. "Macroeconomic Effects From Government Purchases and Taxes," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 126(1), pages 51-102.
    5. Abdul-Aziz Iddrisu & Imhotep Paul Alagidede, 2020. "Revisiting interest rate and lending channels of monetary policy transmission in the light of theoretical prescriptions," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 20(4), pages 183-192.
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