ПРОМЕНА НА МОНЕТАРНАТА СТРАТЕГИЈА ЗА ПОБРЗ ВЛЕЗ ВО ЕУ
CHANGE IN THE MONETARY STRATEGY FOR FASTER EU ACCESSION

Summary/Abstract: Throughout the period following its monetary independence, Macedonia has experienced unsatisfactory performances in the real sector of the economy: low average growth rate and high unemployment rate. At the same time, since the mid – 1990s, Macedonia has maintained low and stable inflation. These divergent tendencies of nominal and real variables point to the need for restatement of the future course of monetary policy. In this regard, the paper deals with the options for a modification in the monetary policy strategy in the near future. Specifically, we focus on the following issues: the goals of monetary policy, the choice between the leading monetary policy strategies (monetary targeting, exchange rate targeting and inflation targeting), and the role of monetary policy in economic growth. On the basis of both economic theory and empirical research, the paper offers tfe policy makers some alternatives for the future implementation of monetary policy.

• Details
• Contents