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Article
Monetary Policy and Unemployment: The Case of Romania
Author(s)
Anaida Iosif
Full-Text PDF XML 358 Views
DOI:10.17265/1537-1506/2022.02.001
Affiliation(s)
The Bucharest University of Economic Studies, Bucharest, Romania
ABSTRACT
The paper aims to analyze the monetary transmission model between the monetary policy and the labor market variable of unemployment. The results of the data show that, the external shocks have an important impact especially on the Romanian interest rates but also on the domestic production; however, the impact is not significant on unemployment, which proves the resilience of the domestic labor market. The central bank policy rate has a stabilizing effect on the unemployment rate in case of an increase in the euro area policy rate.
KEYWORDS
structural vector autoregression (SVAR), monetary policy, labor force, unemployment rate
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