Title
Mogućnosti i ograničenja politike deviznog kursa u kontekstu ciljanja inflacije
Creator
Pješčić, Veselin M. 1971-
Copyright date
2018
Object Links
Select license
Autorstvo-Nekomercijalno-Bez prerade 3.0 Srbija (CC BY-NC-ND 3.0)
License description
Dozvoljavate samo preuzimanje i distribuciju dela, ako/dok se pravilno naznačava ime autora, bez ikakvih promena dela i bez prava komercijalnog korišćenja dela. Ova licenca je najstroža CC licenca. Osnovni opis Licence: http://creativecommons.org/licenses/by-nc-nd/3.0/rs/deed.sr_LATN. Sadržaj ugovora u celini: http://creativecommons.org/licenses/by-nc-nd/3.0/rs/legalcode.sr-Latn
Language
Serbian
Cobiss-ID
Theses Type
Doktorska disertacija
description
Datum odbrane: 29.09.2018.
Other responsibilities
mentor
Krstić, Borko
član komisije
Marinković, Srđan
član komisije
Furtula, Srđan
Academic Expertise
Društveno-humanističke nauke
University
Univerzitet u Nišu
Faculty
Ekonomski fakultet
Group
Katedra za opštu ekonomsku teoriju
Alternative title
Possibilities and constraints of the exchange rate policy in the context of the inflation targeting
Publisher
[V. М. Pješčić]
Format
[22], 347 str.
description
Biografija autora: str. 344;
Napomene i bibliografske reference uz tekst;
Bibliografija: str. 245-256.
description
Monetary policy, exchange rate, inflation targeting
Abstract (en)
The relatively short experience of the National Bank of Serbia in the implementation of the inflation targeting strategy, in addition to the partial success in achieving the set goals in terms of levels of the targeted inflation, was accompanied by a varying degree of the dinar exchange rate flexibility. The aim of the research is to provide a detailed analysis of the validity of certain exchange rate determination theories, as well as the role and importance of the exchange rate in the inflation targeting regime. Also, special attention was devoted to the analysis of the inflation targeting regime and the comparison of the inflation targeting regime with other monetary policy strategies, as well as the possibilities of direct and indirect targeting of the dinar exchange rate within inflation targeting.The conducted empirical analysis and verification of the validity of certain theories of exchange rate determination points to the basic determinants in the movement of the dinar exchange rate. The analysis of the effects of the dinar exchange rate on basic macroeconomic performance points to the importance of the exchange rate in the process of implementation of the monetary policy of the National Bank of Serbia. Comparative analysis with countries that have adopted the inflation targeting strategy indicates the similarities and differences in the practical implementation of the monetary and exchange rate policy. Due to the significance of the dinar exchange rate in the process of monetary policy implementation, as well as the specificity of the domestic economy, primarily in terms of the high level of financial system euroisation, and the significant effect of the change in the exchange rate on prices, the possibilities of indirect and direct targeting of the course within inflation targeting are analyzed.
Authors Key words
Monetarna politika, devizni kurs, ciljanje inflacije
Authors Key words
Monetary policy, exchange rate, inflation targeting
Classification
339.743:336.748.12(497.11)(043.3)
Subject
S180
Type
Tekst
Abstract (en)
The relatively short experience of the National Bank of Serbia in the implementation of the inflation targeting strategy, in addition to the partial success in achieving the set goals in terms of levels of the targeted inflation, was accompanied by a varying degree of the dinar exchange rate flexibility. The aim of the research is to provide a detailed analysis of the validity of certain exchange rate determination theories, as well as the role and importance of the exchange rate in the inflation targeting regime. Also, special attention was devoted to the analysis of the inflation targeting regime and the comparison of the inflation targeting regime with other monetary policy strategies, as well as the possibilities of direct and indirect targeting of the dinar exchange rate within inflation targeting.The conducted empirical analysis and verification of the validity of certain theories of exchange rate determination points to the basic determinants in the movement of the dinar exchange rate. The analysis of the effects of the dinar exchange rate on basic macroeconomic performance points to the importance of the exchange rate in the process of implementation of the monetary policy of the National Bank of Serbia. Comparative analysis with countries that have adopted the inflation targeting strategy indicates the similarities and differences in the practical implementation of the monetary and exchange rate policy. Due to the significance of the dinar exchange rate in the process of monetary policy implementation, as well as the specificity of the domestic economy, primarily in terms of the high level of financial system euroisation, and the significant effect of the change in the exchange rate on prices, the possibilities of indirect and direct targeting of the course within inflation targeting are analyzed.
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