Real Wage Convergence in Romania: Empirical Evidence Based on Club Converging

Neagu, Olimpia

doi:10.2478/sues-2020-0020

Cited by 2 publications

(1 citation statement)

References 29 publications

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“…The macroeconomic stability of a country can be affected by many factors such as deficits and debts ( (Simionescu & Naros, 2019;Neagu, 2020). An external shock is considered by an institution such as the International Monetary Fund (IMF) to denote an exogenous or unanticipated variation from an expected and/or normal trend (Varangis, Varma, de Plaa & Nehru, 2004).…”

Section: Categorization Of Shocksmentioning

confidence: 99%

A Review of the Impact of External Shocks on Monetary Policy Effectiveness in Non-WAEMU Countries

Sedegah

Odhiambo

2021

Studia Universitatis „Vasile Goldis” Arad – Economics Series

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In this paper, the extant literature on the impact of external shocks on monetary policy effectiveness with reference to non-WAEMU countries is reviewed. The importance of this literature review is to provide contemporary perspectives to scholars and policymakers on the relevance of the incidence of external shocks to the effectiveness of monetary policy with reference to non-WAEMU countries. The literature reviewed in this study shows that, on the whole, the extent and the degree to which external shocks are transmitted to the domestic economy substantially depend on a plethora of features, namely the absence of exchange rate flexibility; a strong export concentration, especially with respect to commodities; the level of global economic integration; restricted capacities of production; the absence of competitiveness in exports; over-reliance on foreign aid; foreign reserves that are not adequate and capital account openness.

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Section: Categorization Of Shocksmentioning

confidence: 99%