In the context of sovereign debt crisis in Europe, a crisis entirely felt also in the direct relation between credit institutions, the National Bank of Romania (NBR) adopted a monetary policy strategy meant to determine the reinforcement of its image, by initiating in the autumn of 2011 a new...

In the way towards the euro, the monetary and exchange rate policy must follow, in parallel, the achievement of the nominal and real convergence. The purpose of this work paper is the analysis of the monetary policy strategies in Slovenia and Slovakia before the adoption of the euro on two...

Adopting the euro currency implies the fulfilment of Maastricht convergence criteria, which implies a number of challenges for the macroeconomic policy mix, due to the existence of the conflict between them. The paper analyzes empirically the main monetary policy strategy in the context of euro...

Im Euroraum wird die Einführung eines digitalen Euro bereits seit Längerem diskutiert. Die Untersuchungsphase der Europäischen Zentralbank lief bereits seit Oktober 2021 und ging im Oktober 2023 in eine Vorbereitungsphase über. In anderen Ländern wird digitales Zentralbankgeld bereits...

The possible impact of the euro on Austria has been widely discussed, as will be shown in this literature review, which focuses above all on the impact of the euro on inflation, foreign trade and economic growth. Not surprisingly, it has been quite difficult to quantify the (specific) impact of...

This study empirically attempts to unveil the contradictive findings regarding the relationship between fiscal imbalances and inflation in the context of the latest theoretical indications. The empirical analysis covers the period of 1970 to 2009 and applies dynamic panel techniques in a pool of...

During the late 1980s and early 1990s there was an interest in the academics literature in the role of transparency in monetary policy-making, which partly reflects the increased attention central banks devoted to communication issues in monetary policy practice. Most commonly, transparency...

This paper seeks to verify empirically the existence of a New Keynesian Phillips curve for the Colombian economy. This allows determining if inflation dynamics are likely explained by microeconomic foundations. Additionally, this approach enables the analysis of price rigidities in the economy....

Die Einführung des Euro-Bargelds zum 1. Januar 2002 in Deutschland hat nicht zu einem Inflationsschub auf breiter Front geführt. Zwar ist das Preisniveau nach der Jahreswende spürbar gestiegen, der zu verzeichnende Preissprung ist allerdings zum größten Teil auf Sonderfaktoren...

Empirical studies of the global liquidity spillover on Indonesia's economy are still relatively limited. Most of the global contagion literature on Indonesia's economy focuses only on the effects of real shock (on output) due to financial shock. We assert that the effect of global output on...