THE IMPACT OF MONETARY POLICY ON THE ROMANIAN ECONOMY

被引：0
|
作者：
Dedu, Vasile [1 ]
Stoica, Tiberiu [1 ]
机构：
[1] Bucharest Acad Econ Studies, Bucharest, Romania
来源：
ROMANIAN JOURNAL OF ECONOMIC FORECASTING | 2014年 / 17卷 / 02期
关键词：
monetary policy; Bayesian estimation; FAVAR; NUMBER;
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Most of the research papers revealing the monetary policy transmission mechanism in Romania focused on VAR, Structural VAR or Dynamic Stochastic General Equilibrium (DSGE) models. Our paper brings new empirical evidence regarding the impact of NBR's monetary policy shocks on the real economy, as we use a factor-augmented vector autoregression (FA VAR). Previous research papers generally showed the impact of a monetary policy shock on the GDP, inflation, the money supply and the exchange rate. Our paper also indicates the effect of a monetary policy shock on other macroeconomic variables regarding different sectors of the economy, labor market and the foreign trade sector.
引用
收藏
页码：71 / 86
页数：16
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