Browsing by Author "Cuhal, Radu"

Now showing 1 - 6 of 6

Abordări moderne în implementarea politicii monetare şi reglementarea sistemelor financiare
(INCE, 2013) Cuhal, Radu; Staritina, Ludmila; Basistii, Nicolae
In acest articol sunt identificate abordările modern de implementare a politicii monetare şi reglementare a celor financiare. Este fundamentat un set de măsuri de prevenire şi depasire a crizei financiare din punctul de vedere al diferitelor domenii de cercetare şi al FMI. Sunt identificate noi probleme de politica monetara a bancilor centrale, care sunt concepute pentru a asigura stabilitate financiara a statului (în cadrul politicii fiscale comune). Sunt examinate principalele direcţii de dezvoltare şi implementare a unui nou mecanism monetar, destinat să asigure o soluţie eficientă a problemelor de supraveghere macroprudentiala şi stabilitate financiară.
How core inflation reacts to the second round effects
(2013) Mija, Simion; Slobozian, Dorin; Cuhal, Radu; Stratan, Alexandru
In order to evaluate the second round effects on core inflation, an econometric model based on auto-regressive vector technique was built. The way the core inflation reacts to the changes of oil and food prices on international markets, is an important matter for monetary policy. Another important issue for monetary policy is outlined by the internal markets, and mainly the way the core inflation responds, accordingly, to the changes of the fuel and food prices. The pay off of these changes on core inflation is apriori considered to be significant. The paper tests the above-mentioned hypothesis and the results of the study justify the impact of changes in oil and food prices on core inflation.
Modelling approaches to assess the effectiveness of macro-prudential policy
(,,Victor Slăvescu” Centre For Financial And Monetary Research, 2015) Staritina, Ludmila; Cuhal, Radu; Sadoveanu, Diana
In this paper was approached the problem of the effectiveness of the macro-prudential policy, which became an actual subject in scientific literature. We made a literature review of the appliedmethods to diagnose the effectiveness of the macro-prudential policy toolkit; explored the possiblemethodologies and frameworks which can be used to investigate the effectiveness of theimplemented macro-prudential policies (Alpanda et al. (2014), CGFS (2012)); showed theiradvantages and drawbacks and proposed an empirical method. By this paper we aimed to developa proper framework for policy-makers to follow for sustainable implementation of the macroprudential policy and assessment of its effectiveness.
Politica macroprudenţiala: poziţii conceptuale
(IEFS, 2013) Cuhal, Radu; Staritina, Ludmila; Basistii, Nicolae
În articolul respectiv sunt fundamentate principiile conceptuale ale politicii macroprudenţiale, obiectivele principale şi instrumentele acesteia. Este definite clasificarea instrumentelor politicii macroprudenţiale a comitetului sistemului financiar. Totodată, sunt examinate caracteristicile comparative ale politicii macroprudenţiale în ţările occidentale dezvoltate.
Ликвидность и парадигма саморегулирующихся финансовых систем
(IEFS, 2012) Mихась-Фенковский, Иван; Cuhal, Radu; Staritina, Ludmila
The global financial and economic crisis that affected the world economy during the last years, led to theoretical and practical discussions on the role of banking system in the world economy. At the same time, there are discussed in detail and analyzed the fundamental factors that led to that situation, especially the issue of liquidity and credit crunch. In this context, this Article is a contribution to the global financial situation analysis through the excessive liquidity factor analysis and self-regulation paradigm of financial systems.
Ликвидность и процесс финансиализации
(IEFS, 2012) Cuhal, Radu; Staritina, Ludmila; Mихась-Фенковский, Иван
The global financial and economic crisis during 2007-2009 and its continuation to date, was caused not only by economic factors but also by many others, such as social, geopolitical, historical and cultural factors. In this context, financial engineering that led first to a monetization of the world economy and on the other hand to an increase in the sovereign and corporate debt, had led to a decrease in productive investments, excessive liquidity issues by central banks and social pressures. Thus, the analysis of the factors that led to a new world economic crisis could help finding ways out of the situation and to minimize the risks of another crisis.