Implications of the financial crisis to the relevance of Taylor rule Case study: European Union
The recent global economic crisis has caused huge losses not only financial but also and more important losses related to the general confidence in the ability of the science of economics to contribute to the political decision making in a manner that will ensure an economic, social and sustainable...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
General Association of Economists from Romania
2014-05-01
|
| Series: | Theoretical and Applied Economics |
| Subjects: | |
| Online Access: |
http://store.ectap.ro/articole/986.pdf
|
| _version_ | 1811232361429336064 |
|---|---|
| author | Cătălin-Emilian HUIDUMAC-PETRESCU Alexandru Cătălin POPA |
| author_facet | Cătălin-Emilian HUIDUMAC-PETRESCU Alexandru Cătălin POPA |
| author_sort | Cătălin-Emilian HUIDUMAC-PETRESCU |
| collection | DOAJ |
| description | The recent global economic crisis has caused huge losses not only
financial but also and more important losses related to the general confidence in
the ability of the science of economics to contribute to the political decision making
in a manner that will ensure an economic, social and sustainable development on
the long run. To this regards, the science of economics, as any other science, must
constantly review all its mainstream theories, theories that in time have been
implemented by most of the economic policymakers around the world. The Taylor
rule is a central element in the decision making process of monetary policy rates
set by most central banks, both in developed and emerging economies .
This paper proposes an analysis of the Taylor rule efficiency in terms of achieving
the objectives of the monetary policy throughout the European Union, and to
briefly outline some possible adjustments taking into account the unique specificity
of these economies. |
| first_indexed | 2024-04-12T11:01:56Z |
| format | Article |
| id | doaj.art-05bbdab23e124631b8de7c6211285ffb |
| institution | Directory Open Access Journal |
| issn | 1841-8678 1844-0029 |
| language | English |
| last_indexed | 2024-04-12T11:01:56Z |
| publishDate | 2014-05-01 |
| publisher | General Association of Economists from Romania |
| record_format | Article |
| series | Theoretical and Applied Economics |
| spelling | doaj.art-05bbdab23e124631b8de7c6211285ffb2022-12-22T03:35:54ZengGeneral Association of Economists from RomaniaTheoretical and Applied Economics1841-86781844-00292014-05-01XXI511312618418678Implications of the financial crisis to the relevance of Taylor rule Case study: European UnionCătălin-Emilian HUIDUMAC-PETRESCU0Alexandru Cătălin POPA1 The Bucharest University of Economic Studies, Romania The Bucharest University of Economic Studies, Romania The recent global economic crisis has caused huge losses not only financial but also and more important losses related to the general confidence in the ability of the science of economics to contribute to the political decision making in a manner that will ensure an economic, social and sustainable development on the long run. To this regards, the science of economics, as any other science, must constantly review all its mainstream theories, theories that in time have been implemented by most of the economic policymakers around the world. The Taylor rule is a central element in the decision making process of monetary policy rates set by most central banks, both in developed and emerging economies . This paper proposes an analysis of the Taylor rule efficiency in terms of achieving the objectives of the monetary policy throughout the European Union, and to briefly outline some possible adjustments taking into account the unique specificity of these economies. http://store.ectap.ro/articole/986.pdf macroeconomicseconomic crisismonetary policyfinancial marketsTaylor’s rule |
| spellingShingle | Cătălin-Emilian HUIDUMAC-PETRESCU Alexandru Cătălin POPA Implications of the financial crisis to the relevance of Taylor rule Case study: European Union Theoretical and Applied Economics macroeconomics economic crisis monetary policy financial markets Taylor’s rule |
| title | Implications of the financial crisis to the relevance of Taylor rule Case study: European Union |
| title_full | Implications of the financial crisis to the relevance of Taylor rule Case study: European Union |
| title_fullStr | Implications of the financial crisis to the relevance of Taylor rule Case study: European Union |
| title_full_unstemmed | Implications of the financial crisis to the relevance of Taylor rule Case study: European Union |
| title_short | Implications of the financial crisis to the relevance of Taylor rule Case study: European Union |
| title_sort | implications of the financial crisis to the relevance of taylor rule case study european union |
| topic | macroeconomics economic crisis monetary policy financial markets Taylor’s rule |
| url |
http://store.ectap.ro/articole/986.pdf
|
| work_keys_str_mv | AT catalinemilianhuidumacpetrescu implicationsofthefinancialcrisistotherelevanceoftaylorrulecasestudyeuropeanunion AT alexandrucatalinpopa implicationsofthefinancialcrisistotherelevanceoftaylorrulecasestudyeuropeanunion |