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Monetary Policy Transmission Mechanism in Romania Over the Period 2001 to 2012: A BVAR Analysis
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Author(s):
Cristi Spulbar
(University of Craiova, Romania)and
Ramona Birau
(Constantin Brâncuși University of Targu Jiu, Romania)
Copyright:
2023
Pages:
13
Source title:
Research Anthology on Macroeconomics and the Achievement of Global Stability
Source Author(s)/Editor(s):
Information Resources Management Association
(USA)
DOI:
10.4018/978-1-6684-7460-0.ch012
Keywords:
Business & Management
/
Business Science Reference
/
Economics & Economic Theory
/
Economics and Economic Theory
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Monetary Policy Transmission Mechanism in Romania Over the Period 2001 to 2012: A BVAR Analysis
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Abstract
This chapter aims to provide additional empirical evidence on monetary policy transmission mechanism in Romania over the period 2001 to 2012 based on a BVAR analysis with a KoKo Minnesota/Litterman prior. The importance of the central bank is rising in Romania considering its main attribution to control the interest rate in accordance with its objectives. The empirical evidence provides a significant contribution to literature taking into account the characteristics of the selected emerging country, i.e. Romania, a former communist country in Central and Eastern Europe.
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