2013, no. 1

MODERN APPROACHES TO THE IMPLEMENTATION OF MONETARY POLICY AND THE REGULATION OF FINANCIAL SYSTEMS

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Authors:  
Radu CUHAL, PhD, Associate Professor, BNM
Ludmila STARIĊ˘ÎNA, PhD, Associate Professor, BNM
Nicolae BASISTÎI, PhD student, IEFS
Reviewer Alexandru STRATAN, PhD, IEFS

This study determines the modern approaches to the implementation of monetary policy and regulation of financial systems. Set of measures to prevent and overcome the financial crisis is grounded taking into consideration different areas of research and the IMF.
New tasks of monetary policy in central banks are specified and they are intended to ensure the financial stability of the state (within the common fiscal policy).
The main directions of elaboration and implementation of new monetary policy mechanism, which is intended to ensure the effective solution of problems in macro prudential supervision and financial stability, are examined.

Keywords:  
Monetary policy, financial stability, macro prudential analysis, flexible inflation targeting, liquidity risk, hedging of monetary risks.