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q-fin.GN2017
The micro-foundations of an open economy money demand: An application to the Central and Eastern European countries
Claudiu Tiberiu Albulescu, Dominique Pépin, Stephen Miller
This paper investigates and compares currency substitution between the currencies of Central and Eastern European (CEE) countries and the euro. In addition, we develop a model with…
q-fin.GN2016
The loss of interest for the euro in Romania
Claudiu Albulescu, Dominique Pépin
We generalize a money demand micro-founded model to explain Romanians' recent loss of interest for the euro. We show that the reason behind this loss of interest is a severe declin…
q-fin.GN2014
The role of the "Maximizing Output Growth Inflation Rate" in monetary policy
Dominique Pepin
The paper discusses the role of monetary policy when potential output depends on the inflation rate. If the intention of the central bank is to maximize actual output growth, then…