Record Details

Monetary Policy Transmission Mechanism in Romania - a Bayesian VAR Approach

International Journal of Economic Practices and Theories

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Field Value
 
Title Monetary Policy Transmission Mechanism in Romania - a Bayesian VAR Approach
 
Creator Roşoiu, Andreea
Roşoiu, Iulia
 
Subject Finance
Bayesian VAR approach, Gibbs Sampler, monetary policy, Monte Carlo integration, Romania
E52, C11, C82
 
Description The transmission of monetary policy to the economy is a subject of major importance for central banks and without a good knowledge of it, central banks cannot achieve the goal of high and sustainable economic growth in the long run. For this reason, an analysis of the monetary policy transmission mechanism in Romania is undergone, by using Bayesian VAR approach with multiple types of priors, over the period 1998Q1-2012Q3. Based on the priors used, both analytical and Gibbs sampler results are obtained. The shape of the impulse responses functions vary depending on the type of prior being used and even though the response to shocks is not high, they do not exhibit puzzles and reflect the high volatility given by the current economic crisis.
 
Publisher International Journal of Economic Practices and Theories
 
Contributor —
 
Date 2014-02-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format —
 
Identifier http://www.ijept.org/index.php/ijept%20/article/view/Monetary_Policy_Transmission_Mechanism_in_Romania_a_Bayesian_VAR_Approach
 
Source International Journal of Economic Practices and Theories; Vol 4, No 2 (2014): Special issue on Marketing and Business Development; 199-205
2247 – 7225
 
Language eng
 
Relation http://www.ijept.org/index.php/ijept%20/article/view/Monetary_Policy_Transmission_Mechanism_in_Romania_a_Bayesian_VAR_Approach/122