Romania: Selected Issues

International Monetary Fund

No 2007/220, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper discusses Romania’s modeling monetary policy. A simple Forecasting and Policy Analysis System (FPAS) for Romania has been designed to help in the preparation of the IMF staff’s forecasts and policy assessments. A major advantage of this approach is that it allows the systematic and rapid analysis of different policy options. The model embodies the key principle that, in an inflation-targeting framework, the role of monetary policy is to provide an anchor for inflation and inflation expectations. The development and calibration of this model is an ongoing process.

Keywords: ISCR; CR; pay; fertility rate; employment rate; dependency rate; replacement rate; inflation target; retirement age; forecast inflation path; net migration rate; fertility scenario; government wage; Wage adjustments; Wages; Public sector wages; Inflation; Pension spending; Western Europe; Europe (search for similar items in EconPapers)
Pages: 68
Date: 2007-06-25
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Citations: View citations in EconPapers (2)

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