PASS-THROUGH OF THE EFFECTS OF CHANGES IN THE POLICY RATE TO THE REAL ECONOMY
PASS-THROUGH OF THE EFFECTS OF CHANGES IN THE POLICY RATE TO THE REAL ECONOMY
Author(s): Gabriela LățeaSubject(s): Economy, Financial Markets, Socio-Economic Research
Published by: Editura Universitaria Craiova
Keywords: financial stability; price stability; policy rate; central bank;
Summary/Abstract: Financial stability, particularly in the aftermath of the global financial and economic crisis of 2007-2008, has become the primary objective of most central banks. The National Bank of Romania plays an intrinsic role in preserving financial stability and the efficient preparation and pass-through of monetary policy measures are of the essence. The research work aims to identify the mechanisms for the pass-through of the effects of changes in the policy rate to the real economy by the agency of an estimated dynamic aggregate model covering the period January 2008– June 2018. The results of the research work highlighted the presence of various degrees of efficacy associated with the different pass-through channels for the period under review.
Journal: Revista tinerilor economişti
- Issue Year: 2018
- Issue No: 30
- Page Range: 65-76
- Page Count: 12
- Language: English