Romania is preparing to enter a superior stage of integration - the admission in the euro zone. In this context, the study estimates the structural budgetary deficit, considering it as being one of the most relevant indicators to evaluate the performance of the fiscal management, as well as the...

This paper evaluates the trade-off between output volatility and the variability of the inflation rate around its target (Romanian case). The optimal choice for National Bank of Romania (NBR), in our opinion, is the flexible inflation targeting. For this purpose, NBR must explain the loss...