From Macroeconomic Stability to Sustainable Growth in Romania

Coralia Angelescu and Aura Gabriela Socol ()
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Coralia Angelescu: Academy of Economic Studies, Bucharest

Theoretical and Applied Economics, 2007, vol. 11(516)(supplement), issue 11(516)(supplement), 77-84

Abstract: This paper evaluates the trade-off between output volatility and the variability of the inflation rate around its target. In addition, the study evaluates the quality of economic growth in Romania, in accordance with the macroeconomic stability process. In our opinion, the optimal choice for a central bank is the flexible inflation targeting. For this purpose, central bank must explicites the loss function and the optimal monetary policy rule. We then argued that this Romanian authority can substantially improve their credibility under inflation targeting policy regime by becoming more accountable and transparent. Is the inflation targeting the best choice for the monetary policy regime in Romanian economy? Can Romania improves the sustainable growth?

Keywords: economic growth; inflation targeting strategy; macroeconomic policy; monetary policy. (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:11(516)(supplement):y:2007:i:11(516)(supplement):p:77-84

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