Monetary Policy in a DSGE New Keyesian Model –Case Study for Romania
Monetary Policy in a DSGE New Keyesian Model –Case Study for Romania

Summary/Abstract: The paper proposes the analysis of a Basic New Keynesian model with imperfect competition in goods market and price adjustment mechanism for the macroeconomic context of Romania, as an emerging country. Given the vulnerabilities of the economy of Romania at the beginning and during the recent global economic and financial crisis, there is an increased interest to identify models that can explain the main features of Romania macroeconomic data and to put an eye on shocks that are really necessary to describe the stochastic dynamic of macroeconomic variables.

• Details
• Contents