Theoretical and Applied Economics
No. 1 / 2006 (496)
Limits of Inflation Targeting Strategy
Aura Niculescu
Academia de Studii Economice Bucuresti
Abstract. This paper evaluates the trade-off between output volatility and the variability of the inflation rate around its target (Romanian case). The optimal choice for National Bank of Romania (NBR), in our opinion, is the flexible inflation targeting. For this purpose, NBR must explain the loss function and the optimal monetary policy rule. We then argued that this Romanian authority – NBR – can substantially improve its credibility under inflation targeting policy regime by becoming more accountable and transparent. Is the direct inflation targeting the best choice for the monetary policy regime in Romanian economy?
Contents
Limits of Inflation Targeting Strategy
Measuring the Company Performance
Higher Economic Education System. A Postindustrial Approach
Short-run and Current Analysis Model in Statistics
The Structural Convergence of the Romanian Economy. Comparative Analysis
„Uthopia – The Castle with Dreams and Hopes”
Testing the Informational Efficiency on the Romanian Financial Market
The Knowledge Economy – New Economy?
The Evolution of the Romanian Capital Market – Limits and Performances
Human Resources and the Competitive Organizational Management
Re-spiritualization in the Changing Process by Creativity, Responsability, Hope
A New Approach in Rentability and Capital Risk Management
A New Agenda for Economic Science
Asymmetrical Information and Uncertainty on the Capital Market
Economic Growth Models Transition
Challenges in Global Economy
Public Economy versus Planned Economy. Current Approaches and Problems
The Deadlock of Sustainable Development
The Dichotomy Real – Nominal in Romanian Economy Evolution
The Rational Relevance of the Diffuse Paradigms