Theoretical and Applied Economics
No. 5 / 2014 (594)
Implications of the financial crisis to the relevance of Taylor rule Case study: European Union
The Bucharest University of Economic Studies, Romania
Alexandru Cătălin POPA
The Bucharest University of Economic Studies, Romania
Abstract. The recent global economic crisis has caused huge losses not only financial but also and more important losses related to the general confidence in the ability of the science of economics to contribute to the political decision making in a manner that will ensure an economic, social and sustainable development on the long run. To this regards, the science of economics, as any other science, must constantly review all its mainstream theories, theories that in time have been implemented by most of the economic policymakers around the world. The Taylor rule is a central element in the decision making process of monetary policy rates set by most central banks, both in developed and emerging economies . This paper proposes an analysis of the Taylor rule efficiency in terms of achieving the objectives of the monetary policy throughout the European Union, and to briefly outline some possible adjustments taking into account the unique specificity of these economies.
Contents
Increase of company performances and shareholders’ satisfaction by using design for adaptability (DFA)
Forecasting crude oil market volatility in the context of economic slowdown in emerging markets
The sensory brand of the destination. Case study: Transylvania
Difficulties of the supporting pensioners by current employees – alternative to pension systems at international level. Empirical analysis in Romania
Single market fragmentation. The influence of the public decision system’s features upon the national decision system: A case study of the Romanian Eco-duty
Effects of macroeconomic variables on poverty in Iran (Application of bootstrap technique)
Determination of factors affecting willingness to pay for low SAR value cell phones: A case study of Turkey
Implications of the financial crisis to the relevance of Taylor rule Case study: European Union
Non-performing loans – dimension of the non-quality of bank lending/loans and their specific connections
Regional implications of salary in the European Union