AN APPROACH OVER THE EFFICIENCY AND OUTCOMES OF THE MONETARY POLICY AT MACROECONOMIC LEVEL

Irina-Ştefana Cibotariu, Tiberiu Socaciu

Abstract


Although the monetary policy objectives are known as macro-economical, an analysis of its repercussion over the bank activity is necessary however, in order to understand the mechanism of economy transmission. Within monetary theory, two fundamental affirmations exist, related to the effects of monetary policy over the economy, meaning:

  • The growth of currency quantity, which is not accompanied by an adequate increase of real output and which can lead to inflation.

  • The currency dearth can decrease the volume of trade and productive activity.

The macroeconomic models issued during 1950-1960 tried to establish the outcomes of the alternative macroeconomic policies, among which the monetary policy over the economy’s assembly can also be noticed.


References


Bindseil, U., Monetary Policy Implementation. Theory Past and Present, Oxford University Press, 2004;

Cerna, S., Moneda şi teoria monetară, Vol.I, Editura Mirton, Timişoara, 2000;

Căpraru, B., Banca centrală şi mediul economic, Editura Universităţii „Al.I.Cuza”, Iaşi, 2009;

Cibotariu, I.Ș., Economie monetară și financiară, Editura Didactică și Pedagogică, bucurești, 2013;

Manolescu, Gh., Politica monetară în perspectiva globalizării, Editura Universitară, Bucureşti, 2009;

Pocan, I. M., Politici monetare şi piaţa de capital din România, Editura Economică, Bucureşti, 2005;

Vlad O., Scontul şi evoluţiile sale în politicile monetare contemporane,teza de doctorat, Iaşi, 2008;

*** https://corporatefinanceinstitute.com/resources/knowledge/economics/pigou-effect/

*** https://www.intelligenteconomist.com/pigou-effect/

*** http://www.bnr.ro/Politica-monetara-2.aspx


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