Theoretical and Applied Economics
No. 5 / 2014 (594)
Implications of the financial crisis to the relevance of Taylor rule Case study: European Union
The Bucharest University of Economic Studies, Romania
Alexandru Cătălin POPA
The Bucharest University of Economic Studies, Romania
Abstract. 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.
Keywords: macroeconomics, economic crisis, monetary policy, financial markets, Taylor's rule.
Contents
- Increase of company performances and shareholders’
satisfaction by using design for adaptability (DFA)
Sorin BRICIU
Sorinel CĂPUŞNEANU
Dan TOPOR
Raul BURDEA
- Forecasting crude oil market volatility
in the context of economic slowdown
in emerging markets
Bernard MORARD
Florentina Olivia BĂLU
- The sensory brand of the destination.
Case study: Transylvania
Mihail-Cristian DIŢOIU
Aurelia-Felicia STĂNCIOIU
Gabriel BRĂTUCU
Lucian-Florin ONIŞOR
Andreea BOTOȘ
- Difficulties of the supporting pensioners by current
employees – alternative to pension systems
at international level. Empirical analysis in Romania
Mirela CRISTEA
Nicu MARCU
Raluca DRĂCEA
- Effects of macroeconomic variables on poverty in Iran
(Application of bootstrap technique)
Farhad Khodadad KASHI
Mohammad Nabi SHAHIKI TASH
- Determination of factors affecting willingness to pay
for low SAR value cell phones: A case study of Turkey
Rüştü YAYAR
Yücel EROL
Derya DEMIR
- Implications of the financial crisis
to the relevance of Taylor rule
Case study: European Union
Cătălin-Emilian HUIDUMAC-PETRESCU
Alexandru Cătălin POPA
- Non-performing loans – dimension of the non-quality
of bank lending/loans and their specific connections
Bogdan Florin FILIP
- Regional implications of salary in the European Union
Andreea-Monica PREDONU