A study of the impossible trinity in Romania
Using a VECM and a Taylor type rule it was shown that the central bank kept the autonomy of the monetary policy as the policy rate was modeled primarily based on the evolution of the inflation rate. Forgoing the exchange rate stability is not possible due to the large volume of foreign currency loan...
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| Format: | Article |
| Language: | English |
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General Association of Economists from Romania
2015-06-01
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| Series: | Theoretical and Applied Economics |
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| Online Access: |
http://store.ectap.ro/articole/1095.pdf
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