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Articolul urmator |
229 0 |
SM ISO690:2012 COCIUG, Victoria. The optimality of the monetary policy - the case of the Republic of Moldova. In: Competitivitatea şi inovarea în economia cunoaşterii: Culegere de rezumate, Ed. Ediția 26, 23-24 septembrie 2022, Chişinău. Chişinău Republica Moldova: Departamentul Editorial-Poligrafic al ASEM, 2022, Ediţia a 26-a, p. 52. ISBN 978-9975-155-93-9. |
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Competitivitatea şi inovarea în economia cunoaşterii Ediţia a 26-a, 2022 |
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Conferința "Competitivitate şi inovare în economia cunoaşterii" Ediția 26, Chişinău, Moldova, 23-24 septembrie 2022 | ||||||
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JEL: E31, E32, E52, E58 | ||||||
Pag. 52-52 | ||||||
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Rezumat | ||||||
The promotion of an optimal monetary policy capable of ensuring the achievement of stable and low inflation has been a persistent concern of central banks and the academic environment. Assuming the indispensable role of price stability in the allocation of resources and the distribution of income in the economy with repercussions on lasting economic growth, central banks are forced to strengthen their efforts in the direction of capitalizing on this optimal monetary policy to achieve the proposed goals. The optimum in an economic relationship, according to Pareto, is a state in which one cannot improve the situation of an individual/group without deteriorating the situation of another. For a policy decision, the optimal one is to focus on an objective, which would maximize the well-being of an entire society, and the decision problem focuses on an indicator, which would lead to economic growth. In the case of monetary policy, one such indicator is the stability of prices, and the determination of an optimum is the identification of an inflation, which, leading to the increase of the GDP, does not diminish the purchasing power of the population. The purpose of this study is, thus, to establish an optimal CPI target level for the continuous development of the economy of the Republic of Moldova, using a simulation model. At the same time, the experience of other countries in setting the inflation target and following it will be analyzed. |
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Cuvinte-cheie Central Bank, inflation, monetary policy, inflation targeting |
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