CEU Electronic Theses and Dissertations, 2007
| Author | Varteniuc, Elena |
|---|---|
| Title | INFLATION TARGETING IN ROMANIA: A SVAR APPROACH |
| Summary | Romania has recently adopted inflation targeting and fully liberalized its capital account as part of its commitments towards the European Union. In the present thesis I analyze the successfulness of the IT since its inception in 2005 and whether there were macroeconomic effects and to what extent associated with this particular monetary policy regime. I will do this by estimating a structural VAR derived from a dynamic general-equilibrium model with sticky prices and monopolistic competition and compare the impulse responses to the simulation results of Berkmen and Gueorguiev ( 2004) which I am using as a benchmark. I find that so far Inflation Targeting was successful.Romania has recently adopted inflation targeting and fully liberalized its capital account as part of its commitments towards the European Union. In the present thesis I analyze the successfulness of the IT since its inception in 2005 and whether there were macroeconomic effects and to what extent associated with this particular monetary policy regime. I will do this by estimating a structural VAR derived from a dynamic general-equilibrium model with sticky prices and monopolistic competition and compare the impulse responses to the simulation results of Berkmen and Gueorguiev ( 2004) which I am using as a benchmark. I find that so far Inflation Targeting was successful. |
| Supervisor | Chassamboulli Andri; Horvath Julius |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2007/c05vae01.pdf |
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