Monetary Policy. Selected Works

This volume on monetary policy is part of the series of papers dedicated to the 140th anniversary of the National Bank of Romania.This collection of studies, written between 1993 and 2019 by economists who worked or are still working at the National Bank of Romania, dwells on a series of specific problems related to monetary policy. Among these are inter-enterprise arrears at the start of transition, monetary developments, multiplication of money and its impact on inflation, exchange rate pass-through to inflation and the interbank money market rate pass-through to deposit and lending rates applied to non-bank clients, direct inflation targeting and many more.In Monetary Policy the reader will find answers to many of the questions regarding today`s economy, as well as detailed information about a series of unconventional monetary policies.