The "Great moderation" has led the economists and policymakers to believe that the monetary policy pursued in the late '80s and carried on until the financial crisis in 2007, is correct. The crisis, however, has forced them to rethink this concept. The aim of this paper is to present the...

Inflation targeting 􀂱 monetary policy framework that requires the central bank to achieve a low inflation 􀂱 has contributed to price stability in industrialized countries. As well as the other developing countries, ex communist countries have also tried to apply this strategy, which was...

The world economy is in the face of the strongest crisis of the last seventy years. This crisis is still ongoing, but authorities in many countries have already taken a series of measures to mitigate the effects. In this fight, the central banks are the first line. It is still too early to draw...