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Permanent URI for this collectionhttps://rses.ince.md/handle/123456789/25

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Author: search.filters.author.Timus, AngelaSubject: search.filters.subject.monetary policy

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    Monetary Support and State Aid under the Pandemic Challenges in Romania: A Comparative Approach
    (2024) Clichici, Dorina; Dragoi, Andreea-Emanuela; Timus, Angela
    The COVID-19 pandemic has rapidly led to a severe deterioration of the global economic environment and a sharp worsening in the international financial market sentiment. Hence, the European governments adopted extraordinary monetary and state aid policies to mitigate the economic collapse and stabilise the financial markets. Romania was no exception, being significantly affected by the pandemic. Against this background, the paper aims to analyse the peculiarities of the monetary support and state aid adopted by Romania and by other EU Member States in the context of the pandemic crisis to increase the resilience of their national economies. Our main findings reveal that the monetary support provided in Romania consisted in significant liquidity injections into the financial system, and in the purchase of state securities from the secondary market. In Romania, the largest part of the total state aid was directed to SMEs from the processing industry, constructions, wholesale and retail trade, transport, and the storage sector, especially through guarantees and direct grants.
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    COVID-19 and the response of central monetary authorities
    (INCE, 2020) Iordachi, Victoria; Timus, Angela; Ciobu, Stela
    The spread of the coronavirus epidemic is causing turmoil in financial markets’ functioning. This sudden shock required for a massive policy response. The actions of central banks have emphasized their critical role in crisis management process. The scope of this article is to emphasize policy actions taken by central banks from some selected countries, including the Republic of Moldova.
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    Possibilities of using tax multipliers for stabilization in transition economies
    (INCE, 2018) Cociug, Victoria; Timus, Angela; Iordachi, Victoria
    Within this study, the possibilities of identification and estimation of tax multipliers that are adequate for a transition economy have been analysed. These multipliers can be regarded as macroeconomic policy stabilizers, while their application is coordinated with the objectives established within the development strategies. The authors discuss the problem of equilibrating monetary stabilizers with the tax ones, which are used namely in transition economies to achieve sustainable economic growth, basing on the example of the Republic of Moldova.
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    Central banks forecasting models and policy analysis systems in a new era
    (INCE, 2016) Staritina, Ludmila; Timus, Angela; Sadoveanu, Diana
    Forecasts have a great importance in the monetary policy formulation and implementation process. In this paper we aimed to close the gap between the research and practice in the matters related to forecasting and policy analysis systems applied by central banks. Particularly, we relied on the structure of the basic framework for policy analysis, their theoretical background and main processes which they imply. We focused on the FPSA developed by central banks from CEE countries, inclusively by the National Bank of Moldova, namely its construction for short-term and mid-term forecasts.